Keystart
Keystart began in 1989 as an initiative of the WA State Government
The initiative was created to help West Australians who were struggling to save the required deposit, get into their own home
Keystart is available to all, Not Only First Home buyers. You just have to meet the lending criteria
Keystart are unique in the home loan market, they require only a 2% non-genuine deposit and no Lenders Mortgage Insurance (LMI) is required.
If you qualify for the First Home buyers Grant of $10,000, this can go towards your 2% deposit required
Minimum requirement from most other home loan lenders is a 5% genuine savings deposit and payment of Lenders Mortgage Insurance which can be about $10,000
Keystart have increased the home loan lend up to $550,000
Keystart have helped over 121,000 West Aussies into their own homes
Keystart have helped me and some of my children get into property and is a great entry point to home ownership that allows you to escape that rental trap
About Keystart Home Loans
- They are all Variable – Principal & Interest home loans
- No Interest Only loans
- No Fixed rate home loans
- Owner-Occupied home loans only – NO Investment
- You can have owned a property before
- Not to be used to purchase a second home, you cannot already own a property
- Centrelink payments can be used towards qualifying for a home loan
- Keystart requires builders to provide turnkey build packages, less stress when you move into your new home
Keystart have an Income Limit Caps, to be eligible you must not exceed the maximum incomes:
Single: $105,000
Couple: $155,000
Keystart interest rate is generally higher than most lenders in the home loan lending market
Keystart uses the interest rate from the 4 major banks and averages it out to find their interest rate