Getting your own home is an exciting time. It's a big step and will take you on quite a journey. Whether you’re buying your first home, or just making your next move, owning a home is one of the biggest investments you’ll ever make. So it’s important you make the right decisions and understand how to get a home loan. We're here to support you as you go. There are five major stages in the home loan process.
Find out if Keystart is right for you
We're a little different here at Keystart. We focus on helping people get started on home ownership. We want you to be successful in managing a home loan. So we have a few simple requirements to be eligible for a Keystart loan. You can find out if you qualify in five minutes. This is the first stage in applying and on completion you will be notified if you may be eligible and the amount you may be able to borrow.
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.
If your application meets Keystart’s lending requirements, you will be issued with a pre-approval letter. This means you'll know how much you can spend, so you can start looking for a home!
Remember - don't make an offer on a home or house and land package until you have received pre-approval.
Consider what you really want (or need!) for your new home. Now may be the perfect time to consider a unit rather than a house. Perhaps you can start off with a two bedroom home rather than three. This is a great opportunity to look closely at your budget and consider what you can comfortably afford. Your pre-approval will specify the required monthly repayment for the amount you may be able to borrow. Take some time to check how affordable that will be for you.
Settlement is the official process of transferring ownership from the seller to 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!