Keystart Home Loans
Getting into your own home is easier than ever if you’re a West Aussie, thanks to an ultra-handy home loan option called Keystart.
What is Keystart you ask? Well we’re here to answer all your burning questions!
Keystart is a Western Australian Government initiative that provides low deposit home loans with no Lenders Mortgage Insurance (LMI) to West Aussies, to help them get into their own home sooner.
At Aussie Living Homes we partner with our very own in-house finance team who can help you apply for a Keystart loan – if it’s the right option for you.
Why Keystart Loans rock!
Keystart home loans have helped thousands of Australian’s just like you get into their own home.
With a Keystart home loan:
- You can apply for a loan with a deposit as low as 2%.
- No genuine savings are required – if you’re a first home buyer you can use the $10K grant towards your deposit.
- You can save thousands by not paying LMI (Lender’s Mortgage Insurance).
- It’s available to first and non-first home buyers – it doesn’t have to be your first home.


Do you qualify?
Keystart is definitely a sweet deal, but it’s not right for everyone, it’s worth noting that there’s a cap on how much you can earn to qualify.
We have some awesome news to report however – the income limits to be eligible for a Keystart loan have recently been increased, making it even easier to get into your own home! If you’ve applied for low deposit finance in the past but didn’t previously meet the eligibility requirements, you could now.
The current income limits are:
- Singles: $105,000 (previously $90,000)
- Couples: $130,000 (previously $115,000)
- Families: $155,000 (previously $135,000)
This offer from Keystart has been extended until June 2021 – talk to our finance team today.
Keystart vs Bank Loan – What’s best for you?
One size doesn’t fit all, and that’s also the case with a home loan. There are many different options available and deciding on which home loan option is right for you depends on your own personal situation – your budget and your savings.
- Deposit. With Keystart, you are able to get into your own home sooner, with a deposit starting as low as 2%. Some lenders require upwards of a 10% deposit, which could take a first home buyer years to save!
- Interest Rates. Although you may need a low deposit with Keystart, due to the lending risk, the interest rates may be slightly higher in comparison to a lender that required a higher deposit initially, which could mean a more competitive interest rate.
- Lenders Mortgage Insurance (LMI). Most lender’s charge an LMI fee if you take out a home loan with a deposit less than 20%, which can cost thousands. With a Keystart home loan, you are not required to pay LMI!
With so many options available, it can be overwhelming trying to figure out which home loan option works for you. Lucky for you, we’ve put together a super handy quiz to help you determine which home loan is right for you.
