Keystart Home Loans

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Keystart Home Loans logo

Compare affordable loans available for Western Australians with flexible terms and features.

Keystart is a government initiative offering finance for people striving to buy a home in the state of Western Australia. By providing home loans with low deposits and a shared ownership option with the Department of Housing, Keystart enables first and subsequent home buyers to purchase the home of their dreams.

Rates last updated July 21st, 2017
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Keystart Home Loan
A low deposit home loan with $0 loan keeping fees.
5.16% 5.25% $999 $0 p.a. 96% Enquire now More info
5.16% 5.21% $631.70 $0 p.a. 98% Enquire now More info
516.00% 5.16% $0 $0 p.a. 90% Enquire now More info
5.16% 5.23% $631.70 $0 p.a. 98% Enquire now More info
5.16% 5.23% $631.70 $0 p.a. 98% Enquire now More info
5.16% 5.25% $1,231.70 $0 p.a. 98% Enquire now More info
5.16% 5.16% $0 $0 p.a. 90% Enquire now More info
5.16% 5.23% $888 $0 p.a. 98% Enquire now More info

Who is Keystart and what do they do?

Keystart is a home loan lending company offering affordable financing in Western Australia for first and subsequent home buyers with low deposits. The company was founded by the Department of Housing in Western Australia to provide affordable housing to its residents. Keystart home loans are targeted toward owner occupiers and are open to different groups of people, including those with disabilities, public housing tenants, Indigenous borrowers and ordinary borrowers who meet the eligibility criteria.

Keystart home loans can be more affordable because they require a smaller deposit than loans offered by other mortgage providers, and they utilise shared ownership schemes to make financing available to clients who might not qualify with traditional lenders. The company allows homebuyers to co-own their home with the Department of Housing, meaning buyers are responsible for only part of the purchase, while the government raises the money for the remaining portion of the home loan.

Home loans offered by Keystart

Image credit: perthsider

  • Keystart Home Loan This is a home loan available for residents of Western Australia, designed to help them own a home at an affordable rate.The loan requires as little as a 2% deposit, though the required deposit is larger for more expensive properties. It offers a maximum loan term of up to 30 years. Borrowers are allowed to make additional repayments, and monthly repayments on the loan are required. The loan also offers a redraw facility and no loan keeping fees.
  • Goodstart home loan This loan is designed to give Department of Housing tenants an opportunity to become homeowners and break the cycle of paying rent. Tenants who are looking to purchase their first home or subsequent home buyers can apply for this loan, with the Department of Housing fronting up to 40% of the home loan value. Under this agreement, the tenant and the government have shared ownership of the property, with the buyer having the option of taking a loan increase should they opt to buy the government’s share of the home later on. This loan offers attractive features such as no loan keeping fees, the option to make additional payments, a redraw facility and a loan term of 30 years.
  • Sole Parent Home Loan This loan scheme is designed to assist sole parents to hold on to their house after a divorce or family bereavement. The loan requires only a 2% deposit and offers an opportunity for the Department of Housing to have a maximum equity share of 40%. Buyers in the Metro and Northern Remote areas can access this loan, which also offers a redraw facility and no loan keeping fees. Buyers wishing to make extra payments can do so, and they can also take advantage of the redraw facility on the loan to purchase additional Department of Housing shares. Should you wish to purchase the share of your home owned by the Department of Housing, you can do so by taking a loan increase. This home loan is available for subsequent home buyers only.
  • Disability Home Loan This is a loan scheme designed to assist first time and subsequent home buyers who are disabled or caring for a disabled person. Like the other Keystart home loans discussed above, the Department of Housing in Western Australia enters into a shared ownership agreement with the home buyer with the aim of financing up to 40% of the home loan. The loan offers a repayment term of 30 years, a redraw facility and the opportunity for a loan increase. The loan has no loan keeping fees and it requires as little as a 2% deposit. Additional repayments are allowed should the buyer have extra funds during the loan term, and borrowers have the option to buy the government's share of the property.
  • Aboriginal Home Loan This is a loan designed to assist Aboriginal residents. The loan offers a low deposit which can start at 2% of the home value, and is open to both first time and subsequent home buyers. Like all other Keystart home loans, this loan offers a redraw facility, zero loan keeping fees, a maximum loan term of 30 years and an option for extra payments. Buyers have the option of shared or full ownership on the home they purchase. Buyers who opt for shared ownership with the Department of Housing can purchase the government’s share by taking a loan increase, enabling them to fully own the home.
  • Keystart Country Housing Loan This home loan targets farmers who are looking to purchase, build or renovate a home either for themselves or for their dependents. Small business owners can also take up this loan to build or purchase a home for their staff and dependents, or even for themselves. Loan repayments on the principal and interest are on a monthly, quarterly or half-yearly basis, with no loan keeping fees and a deposit of 20% on farming properties and 10% for town site residential properties required. The loan doesn’t have a maximum income qualification limit. Owner builders are acceptable, and additional repayments are also allowed.
  • SharedStart Home Loan With this loan, home buyers are offered a shared equity scheme where they can co-own a home with the Department of Housing, which can finance up to 30% of the home loan to make it more affordable. The maximum term on this loan is 30 years, with additional repayments allowed and loan increases offered to home buyers wishing to buy the government’s stake in the property. Buyers are required to make monthly repayments on the loan and are charged no loan keeping fees over the course of the loan repayment. An initial deposit of 2% is required on the home loan value.

How to apply for a Keystart home loan

Keystart Home Loans logo

Applying for a Keystart home loan online is easy and straightforward, and Keystart provides a number of online tools to help you check if you qualify for the home loan you want.

Once you are fully prepared to apply for the loan online, you should ensure you have about 20 to 30 minutes to fill the application. Your online application will be processed by loan approval officers at Keystart so you can be given finance pre-approval as fast as possible. The application will have to pass the loan approval criteria, and is assessed based on your credit attributes and standard credit policies of the lender.

Documents needed to apply for a Keystart home loan

Filling in the online application for any particular Keystart home loan does not determine your eligibility for it. Before your application can be reviewed, you will be required to go through the full application process and provide the following documents:

  • The reference number for the ‘Do I Qualify’ tool outcome
  • Full details of your financial situation. This should include details of your income, all liabilities such as personal loans, credit card debt, your assets including bank account and deposit funds.
  • A list of all other assets you own and their value.
  • Proof of your identity. You may need to provide your driver’s licence, birth certificate or passport.
  • The names of all the applicants, including details of their dependents.

The Keystart online application feature allows you to start the journey to owning a new home in a matter of minutes.

Keystart home loans are different from other home loans in the Australian property market because they offer lower deposits requirements, and have the unique feature of letting you share ownership of the home you want to purchase with the State Government of Western Australia.

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This page was last modified on 5 October 2016 at 1:53pm.

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21 Responses

  1. Default Gravatar
    brettMay 9, 2015

    Is Keystart dropping their interest rate?

    • Staff
      MarcMay 11, 2015Staff

      Hi Brett,
      thanks for the question.

      Keystart will announce their response to the RBA decision soon, you can check our RBA page to see how lenders respond to the rate cut.


  2. Default Gravatar
    jacquieFebruary 24, 2015

    can seniors qualify
    how long do I wait

  3. Default Gravatar
    GarrethJanuary 3, 2015

    I’ve been in WA for over 2 years now living and working. Will Keystart require a credit check from NZ as well?

    • Staff
      MarcJanuary 5, 2015Staff

      Hi Garreth,
      thanks for the question.

      Keystart will conduct separate credit checks on both your Australian and New Zealand credit history. Depending on the nature of the credit listings, you may still be eligible for a home loan.

      I hope this helps,

  4. Default Gravatar
    KennethOctober 14, 2014

    Do keystart home loan offer any offset account product?

    • Staff
      MarcOctober 14, 2014Staff

      Hi Kenneth,
      thanks for the question.

      Unfortunately Keystart doesn’t offer a home loan with an offset account. You can compare home loans with offset accounts here.

      I hope this helps,

  5. Default Gravatar
    MangoesSeptember 5, 2014

    When do you have to start paying full mortgage once approved and the building process is in motion?

    • Staff
      ShirleySeptember 5, 2014Staff

      Hi Mangoes,

      Thanks for your question.

      Your repayment structure is determined upon application. Depending on the type of loan your opt for, you can make interest-only repayments for an agreed period of time.

      For more information, please get in touch with Keystart.

      All the best,

  6. Default Gravatar
    joanneSeptember 2, 2014

    Do you no if there something like that in qld

    • Default Gravatar
      DebbieSeptember 22, 2014

      This is a question already asked, can you send me the link as well

      Do you no if there something like that in qld

    • Staff
      ShirleySeptember 23, 2014Staff

      Hi Debbie,

      I’ve emailed the link to you, please check your inbox.


    • Default Gravatar
      RachaelFebruary 11, 2015

      Could you send me the link as well please?

    • Staff
      ShirleyFebruary 11, 2015Staff

      Hi Rachael,

      Thanks for your question.

      Please see this link regarding the Queensland Government and its Indigenous Home Ownership Program.

      All the best,

    • Staff
      ShirleySeptember 3, 2014Staff

      Hi Joanne,

      Thanks for your question.

      I’ve found something similar on the Queensland Government website, I’ve emailed you the link.

      Hope this helps,

  7. Default Gravatar
    WYLAugust 20, 2014


    • Staff
      ShirleyAugust 20, 2014Staff

      Hi Wyl,

      Thanks for your question.

      I’d recommend speaking to Keystart directly about how their home loans are financed and which policies they need to adhere to. According to their website, no government subsidies are provided to them.

      Interest rates are determined on a case by case basis, and so they may or may not be higher than what the banks are currently offering.

      All the best,

    • Default Gravatar
      WYLAugust 20, 2014

      Hi Shirley,

      Thank you so much for your quick response and advice.

  8. Default Gravatar
    LoMay 13, 2014

    We both applied for a keystart loan. The house is a month away from handover but we have been seperated for 5 months. My partner will not be moving Into the house. When can he sign everything over to me in regards to laws etc?

    • Staff
      MarcMay 13, 2014Staff

      Hi Lo,
      thanks for the question.

      This question is best suited towards Keystart Home Loans directly. They’ll be able to advise you on what you should in your current situation.

      Sorry I couldn’t be of more help,

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