The home loan process

We do things a little differently here at Keystart. We focus on helping people get started on home ownership, so we have a few simple requirements to qualify for a Keystart loan.

You can find out if you qualify in five minutes. We call this pre-qualification. If you qualify, we'll also let you know your purchase price range for a home.

Once you start an application and provide more information, we'll be able to give you a more confident figure.

If you decide to start an application, we'll be in touch for your pre-qualification check-in. At this step, the team will go through some questions to clarify a few things. You can save time during this call by prefilling your information after completing Do I qualify.

We have a range of home loan options that may be suitable for you. Or you may find a better solution at another lender. Take the time to consider all your options, and call us if you want to chat or have any questions.

Here to help

You'll have a dedicated Keystart home loan specialist to support you through the home loan application process and keep you informed. If you are using a broker, they will let you know what is required.

You'll be required to provide some financial information like payslips and bank statements. This information helps us to provide you with a more confident purchase price and the amount you can borrow.

We check your situation carefully, as we want you to feel comfortable having a home loan without getting into financial difficulty. We want to set you up for success on your home ownership journey.

You'll meet up with your home loan specialist or broker to go through everything and we can answer any questions you may have.

So - you've submitted your application. What happens next? Your dedicated home loan specialist or broker will be in touch to let you know if we need any further information.

Application reviewed

We'll review and assess your application and if it meets Keystart’s lending requirements, you'll be issued with a conditional approval letter. Then you'll know an accurate figure for how much you can borrow and you can start looking for a home.

You'll see a list of conditions that need to be satisfied for your loan to move to formal approval. Your home loan specialist or broker will run through those with you.

Remember - it's important to get conditional approval before making an offer or putting a deposit on building a home.

Take a moment

This is a great time to consider what you really want (or need!) for your new home.

• You may want to consider your housing choices, would you be better suited to an apartment, a unit or a house?
• Perhaps you can start with a two-bedroom home rather than three.
• Take a moment to look closely at your budget and consider what you can comfortably afford.
• Your conditional approval will include the required monthly repayment for the amount you may be able to borrow. Check how affordable that will be for you.

Start househunting

• Once you have conditional approval you can start looking at properties. Exciting times! 
• If you make an offer on a property, make sure it is within your conditional approval amount and includes the 'subject to finance' clause.

So, you've made a successful offer on a property. Nice one. Now you need to finish up the conditions on your loan so we can move your loan onto the formal approval stage.

Your loan documents will be sent to you to review, sign, and return to us. These documents formalise the contract between you and Keystart. It's important you take the time to read these documents carefully. If you have any questions about the contract or other documents, you should obtain independent legal advice.

Next, we'll get your application ready for settlement.

What does settlement mean?

Settlement is the official process of transferring ownership of the property from the seller to you, the buyer. When you receive your loan and mortgage documents, we'll liaise with your settlement agent to arrange settlement.

A date will be set to transfer the property into your name. Once settlement has occurred you can move into your new home!

We're here to support you through your home ownership journey. The application process is just the beginning. Now you'll begin to manage your home loan.

Once you have moved in and are enjoying your new home, grab a coffee and explore the resources on this site, especially our financial wellbeing tools and resources. We'll keep in touch to see how you're settling in. 

When you're all set up... be sure to download our app

The new Keystart app allows you to check in on your home's estimated value and your loan balance, so you'll know when you may be able to refinance - and move on to another lender who may offer lower interest rates and other benefits.

You can also:

• check your transactions,
• set up additional payments easily and securely,
• get reminders of upcoming payments and statements, and
• access financial resources and tips to put you in control of your home loan.

Keystart is a transitional lender. We're here to help you get started, but we encourage you to move on to another lender when you are in a position to do so. You may wish to create a 5-10 year plan for your home loan. Think about your long term goals and key an eye on your estimated property market in the app. 

We recommend that you seek independent financial advice prior to making any decisions about your financial needs.