The 8 Steps to
Home Ownership.

Buying your own home is an exciting time. But how exactly does the process work? Whether you’re buying your first home, or a subsequent one, it could be one of the biggest investments you’ll ever make. So it’s important you make the right decisions and don’t get any nasty surprises along the way.

This guide will explain the 8 steps to buying your own home.

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Disclaimer - The 8 Step tool is for guidance only. Keystart recommends you seek financial or legal advice before purchasing a home.

Step 1
Do I qualify?

Find out whether you qualify for a Keystart loan in under 10 minutes. Some of the questions we will ask to determine your eligibility to apply:

  • Are you an owner-occupier?
  • Are you an Australian Citizen or Permanent Resident?
  • How long have you been with your current employer?
  • What's your gross income and repayments?
Do I Qualify?

Don't qualify? Don't stress. One of Keystart's friendly consultants can help you on the pathway to home ownership.

5-10 minutes

Step 2
Apply for a loan.

If you qualify for a Keystart loan, you can apply online at any time, day or night. It will take 20-30 minutes, and your application will help us identify the best ways that we can help you.

Apply now

What do I need to apply online?

  • Your qualification check reference number and security PIN
  • Proof of identity details for all applicants
  • Details of your financial information
  • A list of your other assets and their value
20-30 minutes

Step 3
Verify your application.

When you’ve submitted your application, one of our friendly consultants will contact you. They will verify the information you submitted to make sure you satisfy the required criteria, and if you need some assistance completing your application, they can help with that too.

Once your details have been verified, an interview will be arranged so that you can sign your application at the Keystart office in East Perth.

Keystart office location 2 Brook Street East Perth 6004 Western Australia

Remember that you’ll need to provide pay slips and other required documents outlined by your consultant.

10-20 minutes

Step 4
pre-approval.

Once we receive all your documents and your application meets Keystart’s lending criteria, you will receive pre-approval. That means you can start looking for a home!

Your pre-approval document will outline how much you can borrow so that you know how much you can spend on a property and the conditions you need to meet to proceed to formal approval.

Your pre-approval is valid for 90 days, which will give you time to consider a home that you can afford and is suitable for your needs.

Remember - don’t make an offer on a home without pre-approval first!

Handy house hunting tips

House hunting tips

  • Research properties online
  • Seek advice from real estate agents
  • Look over the information provided by the Department of Commerce on Buying and Selling a Home.
  • Start your search for a Settlement Agent

Step 5
Making an offer and formal approval.

If you make a successful offer on a home and meet all of the conditions on the pre-approval, you will receive formal approval.

Existing home?

The process of finding a home and reaching final approval is about 30 days for an established property.

New home?

If you're buying a vacant block of land to build a home on, the process can take 45-60 days. The time frame usually depends on whether you have satisfied all of the conditions, and if the builder has prepared a building contract and plans.

30-60 days

Step 6
Sign and return
loan documents.

After formal approval, you will receive your loan and mortgage documents to sign. These documents formalise the agreement between you and Keystart, and once you have returned them to us, we will get your application ready for settlement.

7 days

Step 7
Settlement.

This is the date when the home is transferred into your name. The standard waiting time to set that date is 30 days, and is usually negotiated by the current owner and you.

A Keystart consultant will guide you through this process, along with your chosen settlement agent.
approx. 30 days

Step 8
You're a homeowner.

Congratulations, you are now a homeowner! Now that you have the keys, it’s time to move in and make the house your own. Check out our About to Move page for handy checklists to help with this process.

Remember to look after yourself and your family by budgeting well to manage your financial responsibilities.

Visit our website for supporting information and log in to the client portal to view your loan details.

Client portal