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Skilled Start Home Loan

With a discounted interest rate, our low 2% deposit and no lender’s mortgage insurance, your home ownership dreams may be closer than you think.

Choose a low deposit home loan specifically designed for apprentices, graduates and skilled construction workers.

Loan features:

Discounted standard variable interest rate.
Low 2% deposit, meaning less time to save.
No lender's mortgage insurance.
You can use your first home owner grant (FHOG) towards your deposit if you build.
Available for anyone who is an apprentice, has started an apprenticeship or completed a formal apprenticeship within the last five years.
Made for anyone who has graduated with a Certificate III or higher (Cert IV, diploma, bachelor or higher qualification) in any areas of study within the last five years.
Open for skilled workers in an eligible building and construction occupation (see full list of skilled occupations here) with an employment start date within the last five years.
Free financial coaching service to help you strengthen your financial skills.

How much can I borrow Do I qualify

Rates and fees

For purchasing homes in the

% PA

% * PA

Deposit required

Maximum loan term

Lender's mortgage insurance $0
Additional repayments allowed? Yes
Flexibility in repayment frequency Yes
Monthly account keeping fees $0
Loan increases?
Statement frequency 6 Monthly

*Warning: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Income limits

Select Location

Just me (maximum income)

Two of us (maximum income)

Family (maximum income)

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Always friendly, always easy, no mess, no fuss. Never had an issue. Very happy with our service over the years with prompt correspondence and easy-going staff and local call centre... big plus!

Scott J
Keystart customer
Keystart made my dream of being a homeowner a reality. When I really needed help, they were there. My dealings with them were positive but realistic. I would highly recommend to anyone.

Vincent
Keystart customer

Next steps

Skilled Start Home Loan FAQs

Q Can an apprentice get a home loan?
A

Yes. If you are currently undertaking a formal apprenticeship, or completed one within the past five years, you may be eligible for an apprentice home loan through Keystart’s Skilled Start Home Loan.
At least one applicant must meet the apprenticeship or qualification criteria if applying as a couple or family. You will still need to meet income and property price limits.

Do you qualify for a home loan
Q I completed my qualifications 10 years ago - am I still eligible for the Skilled Start Home Loan?
A
The Skilled Start Home Loan supports people in the early stages of their career. To be eligible, you need to be:
- an apprentice, has started an apprenticeship or completed a formal apprenticeship within the last five years.
- a graduate with a Certificate III or higher (Cert IV, diploma, bachelor or higher qualification) in any area of study within the last five years.
- a skilled worker in an eligible building and construction occupation with an employment start date within the last five years.
If your qualification was completed more than five years ago or if you're a skilled worker whose employment start date was more than five years ago, you won't be eligible for this loan. However, there may be other home loan options that might suit you.
Compare our home loans
Q Are there any restrictions on the type of property that I can purchase?
A

You can purchase any type of property available on the open market anywhere in Western Australia.
There are different price limits though. Our property purchased price limit is set to $700,000 for an established property and $750,000 for an off-the-plan build (not yet built), under construction home or a new home.

Build or buy an existing home
Q What evidence do I need to show that I meet the skilled worker or qualification requirements?
A
You’ll need documents that show your qualification or that you work in an eligible occupation. We’ll go through that with you as you start an application. Examples of acceptable evidence include:
- certificates from a registered training organisation (RTO), such as TAFE or university,
- trade certificates or white cards, or
- high-risk licenses.
All documents must be dated within the last five years. Refer to Build a Life in WA initiative for a full list of approved skilled workers in building and construction occupations.
Q Is the interest rate the same as Keystart’s Low Deposit Home Loan?
A
Skilled Start Home Loan interest rate offers a discount on Keystart’s standard variable interest rate.
Q My partner is a skilled worker or has a qualification, but I do not. Do we both need to meet the occupation/qualification criteria?
A

When applying as a couple, if one applicant satisfies the occupation or qualification criteria, you both may be eligible for the Skilled Start Home Loan.
Q Can I apply for a Skilled Start Home Loan?
A
To apply for our Skilled Start Home Loan, you need to be:
- an apprentice, has started an apprenticeship or completed a formal apprenticeship within the last five years.
- a graduate with a Certificate III or higher (Cert IV, diploma, bachelor or higher qualification) in any area of study within the last five years.
- a skilled worker in an eligible building and construction occupation with an employment start date within the last five years.
Q Other than the deposit, what other costs are there?
A

Some of the other upfront costs you may incur when buying a home include application fees, legal or conveyancing fees, transfer fees, government stamp duty, inspection fees (building or termite), settlement agent fees, building insurance and water or shire rates.
You may also need to consider your moving costs if you need to hire a truck or removalists. If you're a first home buyer and you're thinking of building a new home, you may be eligible for the first home owner grant.

Costs and benefits of buying a home
Q Do I have to be employed to get a loan?
A

Yes, you do need to have a stable income or regular employment for at least six months.
Keystart accepts some Centrelink benefits as income, but your total income affects the amount you will be able to borrow.

How much can I borrow?

Generate Key Facts Sheet

Select the purpose of the home loan and type the amount you would like to borrow to generate the Key Facts Sheet.

Purpose of the home loan

Loan amount

Loan term