Keystart home loans

How we calculate Home Loan Finder Scores

Read full methodology

What different scores mean

9+

Excellent

These home loans offer low costs, coupled with a host of features, giving the best overall value.

7+

Great

These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.

5+

Standard

Usually the home loans would offer above average rates. They may still include some competitive features.

0+

Basic

Higher costs and/or fewer features.

Keystart is a lender based in Western Australia which offers low deposit home loan options to help eligible individuals and families own homes sooner. Borrowers can buy a home with as little as a 2% deposit without lender's mortgage insurance (LMI), as long as they will live in the home.

Interest rates are higher than standard bank loans. This is because of the added risk to the lender when you borrow with such a low deposit. Typically with home loans, the more of a deposit you have the lower interest rates you can get.

Compare Keystart home loans

1 - 5 of 6

Updated regularly

Sort by:Please select

Finder Score (low-high)Finder Score (high-low)Interest Rate p.a. (low-high)Interest Rate p.a. (high-low)Comparison Rate p.a. (low-high)Comparison Rate p.a. (high-low)Monthly Payment (low-high)Monthly Payment (high-low)

Name	Finder Score	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Keystart Urban Connect Home Loan Principal & Interest2% min. depositOwner-occupier Keystart Urban Connect Home Loan Principal & Interest2% min. depositOwner-occupier Details Fees Pros & cons Product Name Keystart Urban Connect Home Loan Interest Rate Type Variable Repayment Type Principal & Interest Interest Rate p.a. 7.60% Comp. Rate p.a. 7.68% Minimum Loan Amount Maximum Loan Amount N/A Maximum Loan Term Maximum LVR 98% Loan Redraw Facility Offset Account Split Loan Facility Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee Valuation Fee Ongoing Fees $0 p.a. Settlement Fee Discharge Fee Pros Cons	Finder score 6.7 Standard	Interest Rate 7.60%	Comparison Rate 7.68%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,060	Continue Compare
Keystart Aboriginal Home Loan Principal & Interest2% min. depositOwner-occupier Keystart Aboriginal Home Loan Principal & Interest2% min. depositOwner-occupier Details Fees Pros & cons Product Name Keystart Aboriginal Home Loan Interest Rate Type Variable Repayment Type Principal & Interest Interest Rate p.a. 7.60% Comp. Rate p.a. 7.65% Minimum Loan Amount Maximum Loan Amount $730,000 Maximum Loan Term Maximum LVR 98% Loan Redraw Facility Offset Account Split Loan Facility Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee Valuation Fee Ongoing Fees $0 p.a. Settlement Fee Discharge Fee Pros Cons	Finder score 6.7 Standard	Interest Rate 7.60%	Comparison Rate 7.65%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,060	Continue Compare
Keystart Access Home Loan Principal & Interest2% min. depositOwner-occupier Keystart Access Home Loan Principal & Interest2% min. depositOwner-occupier Details Fees Pros & cons Product Name Keystart Access Home Loan Interest Rate Type Variable Repayment Type Principal & Interest Interest Rate p.a. 7.60% Comp. Rate p.a. 7.65% Minimum Loan Amount Maximum Loan Amount $615,000 Maximum Loan Term Maximum LVR 98% Loan Redraw Facility Offset Account Split Loan Facility Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee Valuation Fee Ongoing Fees $0 p.a. Settlement Fee Discharge Fee Pros Cons	Finder score 6.7 Standard	Interest Rate 7.60%	Comparison Rate 7.65%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,060	Continue Compare
Keystart Shared Ownership Home Loan Principal & Interest2% min. depositOwner-occupier Keystart Shared Ownership Home Loan Principal & Interest2% min. depositOwner-occupier Details Fees Pros & cons Product Name Keystart Shared Ownership Home Loan Interest Rate Type Variable Repayment Type Principal & Interest Interest Rate p.a. 7.60% Comp. Rate p.a. 7.70% Minimum Loan Amount Maximum Loan Amount N/A Maximum Loan Term Maximum LVR 98% Loan Redraw Facility Offset Account Split Loan Facility Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee Valuation Fee Ongoing Fees $0 p.a. Settlement Fee Discharge Fee Pros Cons	Finder score 6.7 Standard	Interest Rate 7.60%	Comparison Rate 7.70%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,060	Continue Compare
Keystart Low Deposit Home Loan Principal & Interest2% min. depositOwner-occupier Keystart Low Deposit Home Loan Principal & Interest2% min. depositOwner-occupier Details Fees Pros & cons Product Name Keystart Low Deposit Home Loan Interest Rate Type Variable Repayment Type Principal & Interest Interest Rate p.a. 7.60% Comp. Rate p.a. 7.68% Minimum Loan Amount Maximum Loan Amount $730,000 Maximum Loan Term Maximum LVR 98% Loan Redraw Facility Offset Account Split Loan Facility Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee Valuation Fee Ongoing Fees $0 p.a. Settlement Fee Discharge Fee Pros Cons	Finder score 6.7 Standard	Interest Rate 7.60%	Comparison Rate 7.68%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,060	Continue Compare

loading

Load More

Showing 5 of 6 results

Keystart loan features

• • Location: Available to WA residents only
  • Deposit: From as low as 2% (or $2,000, whichever is higher)
  • LMI: Lender's Mortgage Insurance (LMI) is not required
  • Eligibility: First home buyers, low-to-moderate income, and you must live in the home you buy
  • Flexibility: Home loan repayments can be made weekly, fortnightly or monthly
  • Shared ownership option: You can choose to co-own your property with WA's Housing Association and then buy that share later

Who is Keystart best for?

• First home buyers
• Buyers in Western Australia
• Borrowers not eligible for standard bank loans
• Borrowers looking for shared ownership to lower costs

What products does Keystart offer?

Low deposit home loan

his home loan allows borrowers to purchase property with just a 2% deposit and no lender's mortgage insurance.

To take out this loan borrowers in metro and regional areas must earn a maximum of $148,000 for solo borrowers and a combined income of no more than $218,000 for couples/families. In the Kimberley and Pilbara regions, solo borrowers must earn no more than $225,000 and couples/families must earn no more than $285,000.

Shared ownership home loan

With this home loan you'll co-own a share of the property with WA's Housing Authority. You can still buy with as little as a 2% deposit and no LMI.

Solo borrowers must earn an income of less than $123,000, dual applicants and families must earn less than a combined income of $189,000.

Aboriginal home loan

Keystart has a dedicated Aboriginal home ownership team, helping borrowers take out either a full ownership loan or a shared ownership loan. You can use a deposit of 2% or $2000 (whichever is higher) and there's no lender's mortgage insurance.

Income limits are the same as the low deposit home loan. Borrowers in metro and regional areas must earn a maximum of $148,000 for solo borrowers and a combined income of no more than $218,000 for couples/families. In the Kimberley and Pilbara regions, solo borrowers must earn no more than $225,000 and couples/families must earn no more than $285,000.

Urban Connect home loan

This home loan is for borrowers wanting to buy medium and high-density apartments in the inner metro area. As with Keystart's other loans, borrowers can use a deposit as low as 2% and no LMI.

Solo borrowers must earn no more than $180,000, while couples/families must earn no more than $200,000.

How do I apply for a Keystart home loan?

You can apply for a Keystart loan on their website, or speak with one of their home loan specialists.

Before you apply make sure you meet the eligibility requirements like maximum income thresholds and property locations.

Steps to apply:
1. Work out your borrowing power
2. Gather identification documents, evidence of income and savings details
3. Complete your application online or by phone

More questions about Keystart

• What is shared ownership?

  Shared ownership is where the government (in this case, WA's Housing Authority) puts forward cash to help you reach a 20% deposit. While you, the borrower, might only use a 2% deposit, the government will 'top up' the remaining 18% (sometimes more) to help you get a loan. The government would then essentially own that part of that house. As you pay off the loan and earn more and more equity in the house, you might decide to buy back the part owned by the government.

  The federal government has also announced a shared ownership scheme called 'Help to Buy'.

• How do I refinance from a Keystart loan?

  Keystart can be helpful to get borrowers into the property market, but ideally borrowers would eventually move onto more competitive rate loans.

  Once you've built up at least 20% equity in your home you can refinance to a standard bank or lender. Not only would you get more competitive rates but you might be able to take advantage of features like an offset account.

  You can start by completing a mortgage discharge request form from Keystart and then Keystart will help you as you begin the application process with another lender.

  If you're on a shared ownership scheme, you'll take on the government's share in the new loan.

• Can I use a government grant?

  If you are eligible for a government grant, Keystart may allow you to use that towards your 2% deposit.

Written by

Rebecca Pike

Senior Money Writer

Rebecca Pike is Finder’s senior money writer, with over 10 years of experience in mortgages and personal finance. A frequent TV and radio commentator, she frequently appears on Sunrise, A Current Affair, 9News, and Sky News, and contributes expert analysis to publications like Yahoo Finance and The Latch. Rebecca previously served as Editor of Mortgage Professional Australia. She has a Master’s degree in Journalism as well as ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, which comply with ASIC guidelines. See full bio

Rebecca's expertise

Rebecca has written 229 Finder guides across topics including:

• Home loans
• Cost of living
• Budgeting