The Keystart team have created a collection of useful guides to help you to understand every facet of the home loan process. Learn more.
For decades, one burning question has been continually asked by prospective home owners. Should I build, or should I buy an established house?
If you decide to build a new home, your home loan will be a construction loan. With Keystart, there are three main factors you should be aware of.
Settlement is the official process of transferring ownership of a property from the seller to the buyer. Settlement is conducted by the legal and financial representatives of both you and the seller.
A shared ownership loan allows you to purchase a share in your property until you are in a position to buy the property outright. A co-owners agreement will exist between you and the Housing Authority to help reduce your ongoing monthly repayments.
Keystart is known as a transitional finance lender, but what exactly does that mean? It’s quite simple really. When you have built up enough equity in your home, either because you have paid off some of the loan or your home has increased in value, you may meet the criteria of other lenders and at this point we encourage you to refinance your loan.
Lender's mortgage insurance is an insurance policy that protects a lender from financial loss if you are unable to meet your home loan repayments. Lender's mortgage insurance does not protect you as a borrower, it only protects the lender.
Now you are a homeowner you’ll have a lot of different priorities. In addition to paying your home loan payments, you’ll have a few extra expenses too. Our guide has some tips to help you through.
It is very important that you manage your finances and spending so that you always have enough to cover your home loan repayments balanced with your lifestyle needs.