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The home loan process

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.

Stage 1/5 Do you qualify? 
Starting an application

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. We call this pre-qualification. When you have finished pre-qualification, we'll let you know if you may be eligible and the amount you may be able to borrow. You can then continue on to start an application. 

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. 



Stage 2/5 Conditional approval

So - you've submitted your application. What happens next? We'll review and assess your application and will let you know if we need any further information. If your application meets Keystart’s lending requirements, you'll be issued with a conditional approval letter. Then you'll know how much you can borrow, so you can start looking for a home! 

We'll also send you an invitation to register for our application tracker, an online tool to keep you update and informed as you move through your application. Keep an eye on your inbox for your registration email.

Remember - it's important to get conditional approval before making an offer or put a deposit on building a home.

Take a moment

This is a great time to 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. Take a moment to look closely at your budget and consider what you can comfortably afford. Your conditional approval will include the required monthly repayment for the amount you may be able to borrow. Check how affordable that will be for you. 

What to expect

  • We'll be in touch to gather any required documentation. Try to send what is required as quickly as you can so your application doesn't get held up. If you're not sure what is needed, contact your home loan specialist or your broker, or get in touch
  • You'll be asked to provide quite a lot of documentation, including identification, payslips, bank statements and more. We check every applicant's situation carefully to ensure that you will be comfortable making home loan repayments without getting into financial difficulty.
  • If you're eligible, you'll receive your conditional approval letter, confirming the amount you are eligible to borrow and the required monthly repayment amount.  You may have a list of conditions that need to be satisfied before formal finance approval. This may mean providing some more documentation.
  • Start house hunting! Once you have conditional approval you can start looking at properties. You may want to read 3 reasons to get conditional approval before looking for your dream home.
  • If you make an offer on a property, make sure it is within your conditional approval amount and includes the 'subject to finance' clause. 

Stage 3/5Formal loan approval

So, you've made a successful offer on a property. Exciting times! Once all your conditional approval conditions have been met, we will move your loan into the formal approval stage. 

Your loan documents will be sent to you to review, sign and return to Keystart. These documents formalise the contract between you and Keystart. It's important you take the time to read these documents carefully. If you have any questions about the contract or other documents, you should obtain independent legal advice.

Next, we'll get your application ready for settlement.

What to expect

  • We'll send you your loan documents. 
  • You can keep up with the progress of your loan application by registering for our application tracker. Watch your inbox for an invitation to register.
  • If you're not sure of any of the terms and conditions within these documents, we encourage you to obtain independent legal advice before signing the documents. 
  • You will also receive a direct debit form so that you can specify the repayment amount and frequency of your payments once your loan begins. Please get in touch if you need help with this form. 

Stage 4/5 Settlement

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! 

What to expect

  • Your settlement agent will send you the required documents and will advise the amount of funds you will need to provide.
  • You'll also need to arrange building insurance on your home. Send confirmation of your insurance to Keystart before your settlement date.
  • A guide to settlement
Man on balcony

Stage 5/5 Manage your loan

We aim to support you through your home loan journey. The application process is just the beginning. Now you will begin to manage your home loan.

Once you have moved in and are enjoying your new home, grab a coffee and explore the resources on this site. Read our guides and blog stories to keep up to date. Register for the Client Portal. 

Keystart is a transitional lender. We're here to help you get started, but we encourage you to move on to another lender when you are in a position to do so. You may wish to create a 5-10 year plan for your home loan. Think about your long term goals and key an eye on the property market. 

We recommend that you seek independent financial advice prior to making any decisions about your financial needs. 

What to expect


Want to 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