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Before you apply

Interested in a home loan? There are some minimum requirements and guidelines to consider before beginning an application for a loan. Learn more.

Your basic requirements

  • You are over 18 years of age
  • You don't already own a home or land
  • You're looking for a home to live in - not to rent out
  • You are an Australian citizen or permanent resident 
  • You live in Western Australia and want to buy or build a home here

Applying on your own or with a partner


  • You will be fully responsible for your loan.
  • Consider the size and type of the home you want. What about apartment living, or a unit?
  • Think about what you need and what you can comfortably afford.
  • This can be your starter home - doesn't need to be your forever home.
  • If you have a partner who you live with, you'll need to apply as a couple so that we cover your expenses as a couple, making sure your loan is affordable.

Two of us

  • If you both have an income, you may be able to increase your borrowing power.
  • If you want to buy a home together, remember the seriousness of this commitment. You will each be separately and jointly responsible for the loan. It's a big step in a relationship! 
  • You will need to be very open about your debts and spending. Might need a few honest conversations.

What is affordable for your family


If you have a family you'll already know that children increase your household spending! We want to make sure your home loan is affordable and manageable for you. 

  • We use a basic household expense calculation based on the number of dependant children you have.
  • Think carefully about any additional expenses you have for your family, including medical or school expenses. We'll need to know about those too. 
  • We'll also need to know about any children under the age of 18 who may not live with you.


Income limits

Just me (maximum income)
Two of us (maximum income)
Family (maximum income)

Note: These income limits are applicable for the Low Deposit Home Loan. Limits vary for each loan product. See Compare our home loans for more information.

Savings beyond your deposit

As well as a deposit, you'll need funds to cover other costs associated with buying or building a home. Costs may include loan establishment fees, transfer (stamp) duty, settlement agent fees, shire costs and any moving expenses. Depending on your individual circumstances, you may need around $5,000 set aside to cover these costs.

If you are building a home, you may be eligible for the First Home Owner Grant. This grant may cover your deposit and some of these costs.

If you're buying an established home over the value of $430,000, you will pay transfer duty (previously called stamp duty) on the purchase price amount exceeding $430,000. In Western Australia, there is a concession on transfer duty for first home buyers. You can use the Department of Finance's Transfer Duty calculator to estimate how much funds you'll need to have available to cover the transfer duty you will need to pay. Read more about first home buyer concession on transfer duty.

Keystart recommends that you seek your own independent financial advice prior to making any decisions about your financial needs.

Reducing expenses, increases chances

Taking a good look at your expenses and debts can be daunting but a clear picture of your household spending is critical when considering applying for a home loan.

  • Living expenses

    • Keep a diary for a few months to track where you are spending.
    • Are there areas you can cut back? 
    • Be realistic about the lifestyle you want when you have your home. This will help ensure your repayments fit in with your other expenses. 
  • Credit and store cards

    • You may need to get your credit and store card limits down in order to be eligible for a home loan.
    • Can you pay off any cards, or reduce the limit? This will help in applying for a loan.
  • Car and personal loans

    • If you already have a loan then you already have repayments to manage. This has a direct impact on how much you may be able to borrow.
    • You may find it useful to speak to an independent financial advisor to make a plan to consolidate some of those debts or to make a payment plan to pay off more of the loan. 

Where you want to live, matters

Keystart loans are only offered in Western Australia. The maximum house price, which we call the property purchase limit, depends on where you live around the State.

There is a property purchase limit for the Perth metropolitan area, which encompasses the city and surrounds. There are higher property purchase limits in regional areas or in the State's North West. The higher property purchase limits also have higher deposit requirements.

It's also important to consider where you need to live. How close is your work? Are there other considerations in your choice of location?

Let's get started!

  • How much can I borrow?

    By giving us a few basic details, we can tell you how much you may be able to borrow.

    How much can I borrow?
  • Ready to apply?

    Find out if you qualify for a Keystart loan.

    Apply now
  • What would my repayments be?

    Try our repayment calculator.

    Repayment calculator