Indigenous home loans

Home Loans for Indigenous Australians

Indigenous Business Australia (IBA), along with other lenders, help Indigenous Australians achieve their goal of home ownership.

With many individuals spending their life working towards home ownership, owning your own property or land is the Australian dream. The Australian Government has introduced a range of measures to assist Indigenous Australians in realizing this dream through the Indigenous Home Ownership Program. This program is designed to help Indigenous Australians purchase their own home or land with specially designed home loans.

What loans are available for Aboriginal Australians?

Although there are no restrictions for Aboriginals to access home loans from any financial provider, the Australian Government and IBA have introduced unique schemes and home loan products that are designed to make property purchasing more accessible to Aboriginal Australians.

One such support program is concessional housing finance and aftercare support for eligible customers. This allows recipients to purchase an established residential property, land and/or construct a new home, or make essential improvements to existing homes. There are also grants for those customers who will be first home owners.

Indigenous Business Australia Home Loans

IBA have introduced the Indigenous Home Ownership Program to provide financial assistance to Indigenous Australians and ensure they have access to the property market.

These loans can be used for the purpose of purchasing a home that meets your family’s needs, including for the construction of a new home. IBA home loans will not be issued for the purpose of purchasing an investment property or a property that will be used for business purposes.

These home loans and incentives are unique and have a few features that make them stand out from other home loans:

  • Low deposit requirement. These types of home loans have lower deposit requirements compared to other loans. This means that applicants don’t have to save up for as much of a deposit, helping them to get into the property market sooner.
  • Low-interest rate. The interest rate for these types of loans is a concessional interest rate. Your interest rate will be linked to your income so you will be able to afford repayments. This interest rate gradually increases to reach the market variable rate, giving you time to adjust spending and get used to making the mortgage repayments.
  • Standard loan terms. These home loans have standard loan terms of up to 32 years, but the loan term may be extended to assist you in repaying your loan.
  • Additional finance assistance. There’s also additional finance assistance available for individuals wishing to build a home on communal land.
What are the eligibility requirements for IBA housing loans?
What are the steps you need to take in order to qualify and apply for an IBA Home Loan?
  • Download and submit an Expression of Interest form from the IBA website.
  • Along with the Expression of Interest form you will also need to send in a Confirmation of Aboriginal or Torres Strait Islander Descent form, proof of income, evidence of your ability to pay legal fees and stamp duty costs, evidence of your ability to pay the deposit, details of current land or home ownership not financed through IBA and a completed Consent to use your personal information form (all forms mentioned above can be downloaded from
  • If you are deemed eligible, your name will be added to the Expression of interest register and you will be invited to apply for an IBA housing loan as funds become available.
  • When funds become available IBA will contact you and ask you to submit a Housing Loan Application, this will then be used to see if you qualify and how much you may be eligible to borrow.

IBA may only offer you a loan for part of the amount you've requested or need to make your purchase, you will then be required to seek the remainder of the funds from an alternate lender. During the application process, your credit history will be assessed by IBA. You can find out how you stand with your current credit history you can order a credit history check.

What are some of the costs to consider when you are looking to apply for an IBA Home Loan?

There are other fees and charges associated with an IBA Home Loan or purchasing a home in general that will need to be taken into consideration when making this decision.

There are the legal costs associated with home purchase as well as building and pest inspections that should be carried out on the property you are looking at purchasing. You will also have to pay for stamp duty or land tax and mortgage registration fees, if you are a first home buyer you may be eligible for some concessions on some of these.

You can also speak to you lending specialist to discuss any other assistance they can offer for these other costs. Also, speak to IBA about the fees associated with their loans.

Mortgage discharge fee. This fee is applied when you complete your loan whether it be through selling the property or refinancing with another lender.$330
Security dealing fee. Charged at times when IBA is asked to produce the original title of the property, such as if you change the name on the title IBA may be asked to provide the title to the land titles office.$165
Late payment administration fee. When loan repayments are unpaid for a period of 28 days or more beyond their due date and not alternate payment arrangements have been made.$20

These fees are charged by IBA there may be additional goverment fees and charges to be paid, please check for details.

Next steps for an IBA Home Loan

If you are interested in finding out more information on the IBA home loans or you want to discuss your options, you can visit the Indigenous Business Australia website at This site contains all relevant information and forms as well as contact details for your nearest IBA office.

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Keystart Aboriginal Home Loans

If you live in Western Australia, you can take advantage of a Keystart Aboriginal Home Loan. This gives you two options: to buy the property in a shared ownership scheme with the Department of Housing, or full ownership of the property. The deposit required depends on the size of the loan but begins at 2% for properties below $480,000. No lender’s mortgage insurance (LMI) is charged.

Borrowers can make additional repayments on top of the regular monthly repayments and use a redraw facility.

The maximum amount you can borrow depends on whether or not the property is purchased with the Department of Housing in a shared ownership scheme, or you take full ownership, and where in WA you’re buying the property. The maximum loan term is 30 years.

Find out more about Keystart Aboriginal Home Loans

Other home loan types

If the loans mentioned above aren’t available to you, there's still a large number of different home loans which you might want to compare. Some of these include:

  • First home buyer loans First home buyer loans are designed to assist those purchasing their first property. These loans can offer low-interest rates for the first year of the loan and flexible repayments and minimum deposits.
  • No frills loans These are fixed or variable rate home loans with fewer features than regular home loans but lower interest rates and fees.
  • Investment loans Investment loans are for investors who need to borrow additional money when making an investment (typically land or property). These loans can either have a fixed or variable interest rate and are designed to meet investment needs.
  • Low deposit home loans Low deposit home loans allow you to borrow money for a home with a minimal deposit. Typically, you can borrow as much as 95% of the amount required upfront. These loans are common for first home owners who want to fast track entering into the market.

About Compare home loans today

What should you look for when you are comparing any home loans?

  • Interest rate. One of the most important aspects of a loan is the interest rate. You may want to look for a home loan with a low interest rate. Also, decide upfront if a fixed or variable interest rate is better for you and select a loan product accordingly.
  • Flexibility in repayments. Some home loans offer greater flexibility in repayments than others. You may be able to make additional repayments when you have the funds as it helps you save on interest. Also, look out for whether you can make weekly, fortnightly or monthly repayments and whether this will line up with your budget.
  • Loan term. Term lengths will vary depending on what home loan you decide to go with. This is how long your loan is for and the period of time you have to pay it back. This can vary depending on how much money you borrow so ensure you select a loan with a long enough term length for you to pay off your loan.
  • Restrictions Some loans have various restrictions in terms of repayments, redraws, and deposits. Take a look at the terms and conditions imposed by the lender and if this will affect your ability to make repayments. Some of the government schemes also require you to meet certain requirements and terms, so ensure you meet all of these to avoid any penalties.

One of the most important things to avoid when borrowing is not to borrow more than you can afford. Make sure you don’t fall into too much debt and don’t borrow beyond your means. Know how much you can make in repayments and how much of a deposit you can put forward without damaging your ability to cover your living costs.

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Frequently Asked Questions about Indigenous Home Loans

How do I apply for a housing loan with the IBA?

There’s a two-step program for applying, see our more in-depth description of how to go about applying here.

First you need to register your interest by completing an Expression of Interest Form and a Confirmation of Aboriginality or Torres Strait Islander Descent form. After this, the IBA will contact you further, and if you are successful you will be placed on the Expression of Interest Register.

How much can I borrow?

This will depend on your income, expenses and repayments on any other liabilities you have.

What will my repayments be with a loan from the IBA or Keystart?

Your repayments will be tailored to your income.

How does an IBA or Keystart loan work for a first time home buyers?

You can apply for and receive an Indigenous Home Loan alongside any First Home Owner Grant Scheme as long as you are able to fulfill the eligibility requirements of both schemes. IBA also offers some special offers on their loans for First Home Buyers.

Can I refinance my current loan with another lender over to an Indigenous home loan?

Yes you can but there may be fees and charges attached to your current home loan that you will need to pay, so it would be best to contact your current lender to discuss this with them before you contact IBA or Keystart.

Can I take advantage of this scheme to get a home loan if I am a single parent and my children are of Indigenous descent but I am not?

Unfortunately, you won’t be able to purchase a property under this scheme unless your children are a joint property owner. At least one applicant needs to be of Aboriginal or Torres Strait Islander descent in order to qualify for this scheme. And your children will need to be at least 18 years old before they’re eligible for the scheme or be named on the loan or property documents.

Marc Terrano

A passionate publisher who loves to tell a story. Learning and teaching personal finance is his main lot at Talk to him to find out more about home loans.

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64 Responses to Home Loans for Indigenous Australians

  1. Staff
    Belinda | April 12, 2016

    Hi Carmine,

    I’ve sent you an email to follow up with this enquiry.


  2. Default Gravatar
    dee | April 6, 2016

    Im looking at a home loan like keystart are you the same rates?
    How do you prove you are aboriginal? I have family pictures and know about what tribe is that enough?
    Can you still be eligible if im a single parent who works part time on and off?

    • Staff
      Marc | April 7, 2016

      Hi Dee,
      thanks for the question.

      You’ve come through to, a comparison service. The page you’re reading is a general page on home ownership schemes and grants available to indigenous Australians, and it lists schemes from both IBA and Keystart. The interest rates from IBA are linked to your income, and gradually increase to the market rate, so to find out what interest rate you would receive, visit the IBA site directly.

      IBA requires all applicants fill out a Confirmation of Aboriginal or Torres Strait Islander Descent form, which can be found here.

      On the IBA website no specific work requirements are listed, but it does mention that all applicants must “have the capacity to meet housing loan repayments”.

      I hope this helps,

      I hope this helps,

  3. Default Gravatar
    brian | December 10, 2015

    I’m a working aborigine, father of three, how do I apply for the home loan, I wish to buy the home I live in now with my partner an children, dose the rental history help with the loan process, what requirements need to be met, thank you

    • Staff
      Belinda | December 11, 2015

      Hi Brian,

      Thanks for your enquiry.

      If you’d like to apply for an Indigenous Business Australia (IBA) home loan, you’ll need to download and submit an Express of Interest (EOI) form from their website. You’ll also need to provide supporting evidence including an Aboriginal or Torres Strait Islander Descent form, proof of income, evidence of funds, as well as your personal details.

      If you’re eligible, then you’ll be added to the EOI register and you’ll be able to apply as soon as the funds become available.

      IBA may also consider your rental history as this may demonstrate evidence of financial discipline.

      All the best,

  4. Default Gravatar
    | November 12, 2015

    Hi if you are lucky enough to get an IBA home loan, is there a time limit in which you have to use it to find a house?

    • Staff
      Belinda | November 13, 2015

      Hi Rick,

      Thanks for your enquiry.

      Once you’ve lodged the expression of interest form with Indigenous Business Australia (IBA), a representative will get in touch with you in about 1 week to discuss your eligibility. If you are eligible for the loan, you’ll then be placed on the waiting list and in 2-3 weeks time, you’ll be notified of your approval status.
      Generally, IBA gives you 4 months to find a property after applying for pre-approval.

      I hope you find this useful.


  5. Default Gravatar
    rick | October 25, 2015

    Hi if I have owned a house befor can I still get home loan at the low the first home buyers.

    • Staff
      Marc | October 26, 2015

      Hi Rick,
      thanks for the question.

      IBA Home Loans and assistance is offered for those who have previously or currently own a home, although their specific low introductory rate is only offered for first home buyers. You can contact them here.

      I hope this helps,

  6. Default Gravatar
    | September 14, 2015

    how do I find out about my last home loan through IBA thanks

    • Staff
      Belinda | September 14, 2015

      Hi Christine,

      Thanks for your enquiry.

      I’ve sent you an email about how you can get in touch with Indigenous Business Australia (IBA).


  7. Default Gravatar
    Bree | August 5, 2015

    Hi, After submitting an Expression Of Interest(EOI) to IBA, how long will it take to find out the outcome of my EOI?

    • Staff
      Belinda | August 6, 2015

      Hi Bree,

      Thanks for your enquiry.

      If you’re eligible for a housing loan, your name will be added to the Expression of Interest Register and you’ll be invited to apply for an IBA housing loan as funds become available.

      IBA will contact you and ask you to submit a Housing Loan Application which will be used to determine whether you qualify for the loan.

      It will take roughly 2 weeks for an IBA representative to get in touch with you regarding your EOI, and it could take up to 1 month before you’re able to apply.


  8. Default Gravatar
    Rebecca | July 20, 2015

    just wondering if the home loan applies to those aboriginals that live in sydney

    • Staff
      Belinda | July 21, 2015

      Hi Rebecca,

      Thanks for your enquiry.

      Indigenous Business Australia (IBA) have introduced the Indigenous Home Ownership Program to provide financial assistance to Indigenous Australians and to ensure that they have access to the property market- regardless of where you reside.

      To be eligible for an IBA housing loan, you’ll need to be at least 18 years of age, of Aboriginal and/or Torres Strait Islander descent, able to meet the minimum deposit requirements, and able to meet the housing loan repayments.

      To apply for an IBA Housing Loan you’ll need to complete the Expression of Interest, Confirmation of Aboriginal or Torres Strait Islander Descent and Consent to Use Personal Information forms which can be located on the IBA website.

      Kind regards,

  9. Default Gravatar
    Shane | July 11, 2015

    Hi I have a home loan with ANZ . I wondering can I change over to the Aboriginal home loan.

    • Staff
      Belinda | July 13, 2015

      Hi Shane,

      Thanks for your enquiry.

      Please note that is an online comparison and general information service, and we don’t represent ANZ.

      However, ANZ generally charges a $160 exit and early termination fee when you decide to switch from one of their home loans to another.

      Your best course of action would be to contact ANZ directly so you fully understand all the fees and charges incurred when exiting from one of their home loans.


  10. Default Gravatar
    Eric | June 10, 2015

    Is there someone who can help with my car loan may not be the correct site but have a car loan and am paying but it is putting pressure on the home finances but my change of job I had to re-finance

    • Staff
      Elizabeth | June 10, 2015

      Hi Eric,

      Thanks for your question.

      You’ve come through to, a financial comparison site and not a car loan provider. You’ll need to get in touch with the lender you have taken out the car loan with in order to discuss your loan. If you’re considering refinancing to a new loan, you can take a look at your other car loan options on this page.

      I hope this has helped.



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