Low-deposit home loans support first-time buyers across WA

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Low-deposit home loans support first-time buyers across WA

With the rising cost of living, a strong property market and high deposit requirements, homeownership feels out of reach for many.

But for thousands of Western Australians, Keystart has offered an alternative way in.

Since 1989, Keystart has helped more than 124,000 Western Australians get their foot on the property ladder by lowering the barriers to homeownership.

One of the biggest challenges for first homebuyers is saving for a deposit.

Keystart’s low-deposit home loan enables more people to get started on their homeownership journey sooner, as it takes significantly less time to save for a deposit compared to traditional lenders.

“All Keystart home loans have lower entry costs with a two per cent deposit requirement and no lenders mortgage insurance, saving our customers thousands,” Keystart CEO Mark Tomasz said.

“With our low deposit, it may not take you very long to save the required amount, helping you get into your own home sooner.”

With Keystart, you can choose to build new, or buy an established or newly built home. Whether it is a house, a unit or an apartment, you can choose what best suits your needs.

As a transitional lender, Keystart’s goal is to help you get started, not to be your lender for life.

Once you have built up enough equity in your property, it encourages you to move to another lender who may offer lower interest rates and other benefits.

With loan products designed to respond to market conditions, Keystart continues to support people across metropolitan and regional WA.

Not everyone is eligible for a Keystart loan – to ensure Keystart helps those who need it, there are certain criteria, including maximum property price and income limits.

Keystart’s current property price limit on its Low Deposit Home Loan is $730,000. The income limit for singles is currently $148,000, with a family income limit of $218,000 for this loan product.

For a Shared Ownership Home Loan, the property price limit is $615,000 with the singles income limit being $123,000 and the family limit set at $189,000.

Separate property price limits exist in the Kimberley and Pilbara to reflect their unique property market conditions and higher living costs across the region.

The property price limits are reviewed periodically against annualised median house price data sourced from the Real Estate Institute of WA.

Income limits reflect the income required to service the property price limits.

“We’re passionate about creating more opportunities to help people enter the property market sooner,” Mr Tomasz said.

“We’re here to support you through your journey.

“Whether you’re using our guides and resources, engaging with our financial coaching service or tracking your loan progress with our app, we’ll set you up for homeownership success.”

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provides an affordable pathway into homeownership for more Western Australians with low entry cost loans, including two per cent deposits and no lenders mortgage insurance.

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