Keystart Home Loan

  
 Keystart Home Loan
  The Keystart ‘Low Deposit’ home loan is a variable interest rate loan which can be used by owner-occupiers to buy an established home or build a new house. It is available to both first and subsequent homebuyers and we lend in all areas of Western Australia, including the country regions.
All about the loan
•Maximum loan $384,000  ($475,000 above 26th Parallel)
•Maximum property value $400,000 ($500,000 above 26th Parallel)
•Minimum deposit 4%(For any property price exceeding $400,000 a 5% deposit is required)
•A structual report must be obtained by the client for any property purchased that is over 25 years old.
•Maximum income limit;
•Single Applicants $70,000 per annum
•Couples/Families $90,000 per annum
•2% genuine savings to be evidenced prior to approval
•First Home Owner Grant can be used towards deposit and fees
•Other debt repayments cannot exceed 7% of gross income
•Fee Assistance of up to $2,000 can be added to the loan for non-first homebuyers
•No Mortgage Insurance required
•No monthly fees
  Eligibility Criteria
To qualify for a Keystart loan, applicants must:
•be owner-occupiers
•reside in Western Australia
•be a permanent resident
•be over 18 years of age
•not be currently bankrupt or discharged from bankruptcy within 2 years of the date of the application
•not own or part own other residential property at Settlement.
Terms and Conditions
All Keystart loans are for owner-occupied purposes only, not investment. The maximum size of a Keystart loan available to you is determined by your household size, level of income and other commitments that you may have. Each loan is subject to Keystart’s standard terms and conditions.
If you would like more information, please do not hesitate to contact us on 1300 578 278.