Keystart Home Loans

The WA Gov is re-writing the way that us Aussies get into our own homes. While mainstream lenders – you’ve probably met your fair share of them by this point – have a lot of red tape and financial hoops to jump through, Keystart is different. It’s like your golden ticket to the lowest deposit product on the market. And, at the risk of sounding like a motivational quote on Insta, that’s just the beginning.

Keystart Home Loans What is Keystart

Cheat sheet: What even is Keystart?

People have been asking so we’re breaking it down #SmartStyle. Basically, Keystart is the State Government home loan lender who gives super low deposit home loans (as in 2% low) and doesn’t require lenders mortgage insurance! Pheww … you can officially take that deep breath your Calm app keeps talking about.

Here’s the key points on Keystart:

  • Keystart is the lowest deposit home loan on the market
  • You only need a 2% deposit to access Keystart
  • You’ll need to show 1% genuine savings – that’s only $3k for a $300k loan!
  • It’s available if you’re a first home buyers and if you’ve been around the block before (pun intended)
  • Keystart will save you between $7000 and $20,000 depending on the loan size and deposit

Like what you hear? Okay, let’s see if you’re eligible.

We’ve got a whole department of number smarties who were made for this. It’s pretty much their whole job to get you into your new home. So, even if you don’t qualify for Keystart, Loan Co can still work their impressive number magic and get you homeward bound.

Okay, back to Keystart. This is how you qualify:

  • You’ll need to be 18 or over
  • Be a real-life person (no trusts or businesses)
  • An Australian citizen or permanent resident
  • Living in WA or keen to build a new home in WA (this is a WA only thing)
  • Earning less than $105k as a single, $130k as a couple, or $155k as a family in the last financial year (for metro peeps)
  • Earning less than $125k as a single, $150k as a couple, or $155k as a family in the last financial year (for regional peeps)
  • Building a new home up to $480k for metro areas and $500k for regional areas

If you fall into any of these income brackets, you’re on your way to the smartest start going round. But if you’re still unsure, Loan Co got you.

Keystart Home Loans Eligibility Criteria Couple

Time to run the numbers & find out if you qualify for Keystart

Provide some quick deets below and we’ll run the numbers on your Keystart eligibility! Let’s see how you can get into your new Smart home.

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Keystart FAQ’s

Here’s a few As to some Qs you may have.

Is Keystart a good idea?

Ok, let’s think about it. You want a brand-new house with just 2% savings in the bank? Keystart can help bring your homebuilder dreams into reality a helluva lot sooner than you could otherwise, right? Kinda sounds like a perfect match to us.

What is Keystart WA?

Keystart is the State Gov home loan lender who gives super-low deposit home loans (as in 2% low) and doesn’t require LMI. Our number smarties can check to see if Keystart is right for you and help set your finance up for the long run. Time to chat!

Do I qualify for Keystart?

Maybe baby. To qualify for Keystart you will need to meet the following criteria:

  • Be 18 or over
  • Be a real-life person (no trusts or businesses)
  • An Australian citizen or permanent resident
  • Living in WA or keen to build a new home in WA (this is a WA only thing)
  • Earning less than $105k as a single, $130k as a couple, or $155k as a family in the last financial year (for metro peeps)
  • Earning less than $125k as a single, $150k as a couple, or $155k as a family in the last financial year (for regional peeps)
  • Building a new home up to $480k for metro areas and $500k for regional areas

Still not sure? Our team of smarties can run the numbers and let you know if you qualify. Quick, go now!

Is there a downside to Keystart?

Here’s the tea. Keystart kickstarts your homebuilder journey by allowing you to get a super-duper low deposit home loan without having to pay LMI. This helps to reduce your end loan amount and ultimately reduces your mortgage repayments down the track. It’s only up from here, smarties.