SharedStart Home Loan
A shared equity scheme in co-ownership with Housing Authority. 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 30% (as determined by Keystart and/or Dept. of Housing)|
|Maximum qualifying income|
|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.