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Page Heading: Your Keystart Loan
Heading: Key Points


Keystart Loan Applications

Phone 1300 720 855 now or Click here to submit your details online.

Heading: No mortgage insurance and no ongoing monthly fees

Your Keystart Loan

Welcome to your Keystart loan. You're about to discover how much easier it is to buy your own home. We can also assist you to purchase a block of land that you intend building on within 12 months. Let's start by looking at how much deposit you will need.

Keystart Low Deposit Loans

Here's the best news. You may only need a low 4% deposit to get you started if you are purchasing for $412,000 or less (Perth metropolitan and country areas only). The following table will tell you how much you need.

Established Homes and Construction Loans
Security Value Deposit Required Maximum Loan
Perth metropolitan & country areas
Up to $412,000.00 4% $395,500.00
North West Remote
(Kimberley & above 26th parallel)
Up to $450,000.00 4% $432,000.00
$450,001 to $500,000 5% $475,000.00
Land Loans
Security Value Deposit Required Maximum Loan
Up to $250,000.00 5% $237,500.00

You will need to have 2% of the purchase price in genuine savings to be eligible for a Keystart loan. You can use the First Home Owners' Grant to contribute to your deposit and loan fees. The balance of the Grant can be used for other purposes.

You'll also welcome how we assess your income. Keystart can be more flexible than traditional financial institutions when it comes to assessing income. For instance: we take into account all your earnings including wages, salary, family tax benefit, Centrelink payments and child maintenance received. (Please note that some of this income will not be used once your child turns 12 years old).

Our flexibility for assessing income also extends to making special calculations for people in part-time or casual employment and those whose income is in the form of regular commission.

The maximum assessed income for eligibility is $120,000 per household and the interest rate is variable, which at 22 December 2009 is 6.62% per annum. Click here to download Comparison Rate Schedules.

How much can you borrow?

Whether it's a new or existing home, Western Australia offers some of the best quality, most affordable housing in Australia. To find out whether or not Keystart can help you finance your new home contact Keystart on 1300 578 278

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First Home Owners Grant

The Government's First Home Owners Grant provides you with $7000 to help purchase your first home. The grant is not a loan and does not need to be repaid. You can use the Grant to to contribute to your deposit and loan fees. (Not available on land only loans). The balance of the Grant can be used for other purposes. For further information on the First Home Owners Grant, click here.

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What if you are not eligible for a grant?

People who are not eligible for a First Home Owners Grant may borrow up to $2000 for assistance with fees, as long as the total amount borrowed does not exceed the amount for which their assessed income makes them eligible. (Not available on land only loans).

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Comparison Rate Schedule

Download a copy of:
Comparison Rate Schedule Keystart Housing Loan, 21st December 2009 (PDF 29 kB)
Comparison Rate Schedule Keystart Land Loan, 21st December 2009 (PDF 36 kB)

Please note that this is a PDF document. For more information on PDF documents, click on the PDF icon below.

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Redraws

Keystart now allows you to 'Redraw' on any or all additional payments you have met in your existing home loan. Redraws are now available for any worthwhile purpose. If you're keen to undertake some home improvements or are considering consolidation of other loans, you could give Keystart a call. Keystart 'Redraws' for a minimum of $1000 are provided free of any fees or charges. To take advantage of this expanded Keystart service simply call 1300 361 517 to discuss your individual circumstances.

Please note that redraw is not available on Shared Equity loans.

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Increased loans

Increased loans are only available for the purchase of additional equity in the case of a shared equity property.

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