Goodstart Home Loan
Assist Housing Authority tenants to break the rent cycle and transition into home ownership. For first home buyer and subsequent home buyer.
|Deposit||2% deposit *|
|Term of Loan||30 years|
|Maximum property value||As determined by Housing Authority (above 26th parallel - applicants must work, purchase and live in these locations)|
|Maximum Housing Authority equity share||Up to 40% or a maximum of $150,000|
|Maximum qualifying income|
|Couples / Families||$90,000|
|Above the 26th Parallel||$110,000|
|Maximum other debts||My existing monthly debt repayments are less than 10% of my gross income|
|Lenders mortgage insurance||Not required|
|Loan keeping fees||$0|
|Loan increases||To purchase additional Housing Authority shares|
|Statement frequency||6 Monthly|
* Higher of 2% or $2,000 is required.
Keystart Terms and Conditions, fees and charges and normal lending criteria apply. Rates and limits stated are subject to change without notice.