Welcome To Smooth Start

Where would you like to live?


SmoothStart Logo

All content is relative to the region selected

6 reasons why First Home Buyers choose a Keystart Home Loan

Keystart is the go-to lender for many people wanting to build their first home.

Here are 6 good reasons why:

  1. Generous income limits 

Last year Keystart temporarily extended its income limits for borrowers, which was great news as it meant more people were eligible to apply for a Keystart home loan. The big news now is that Keystart has recently decided to keep those higher limits in place until at least the end of June 2021. So, if you have an annual income of up to $125,000 as a single, $150,000 as a couple or $155,000 as a family, you may be able to build your first home sooner than you thought. Visit the Keystart website today for more information on income limits. 

  • Low, low deposit 

Many other lenders will ask you to save a minimum of 5% as your deposit. With Keystart, you can save as little as 2%. What’s more they don’t ask for what they call genuine savings, so your deposit could be in the form of help from mum and dad for example. 

  • No monthly account fees

Zip. Zilch, Nada. Whereas many lenders will charge ongoing fees on your home loan, a Keystart low-deposit home loan is fee-free each month. 

  • No lenders mortgage insurance

This saves you thousands of dollars. Need we say more.

  • They only do home loans

Keystart is an initiative of the WA Government and their sole purpose is to help young people in Western Australia get into a home of their own.  They’re not profit-driven and any surplus funds that are generated go towards social housing initiatives. And because they’re not a bank, Keystart won’t try and sell you lots of other products.

  • You can switch to another lender as soon as you’re ready

With their lower entry costs, Keystart loans are designed to give you a leg up onto the housing ladder. Once you’ve built up some equity in your home, they’ll encourage you to refinance with another lender. That means, when you’re ready, you can shop around for a new deal.

So how do you apply for a Keystart loan?

There are some eligibility requirements if you want to apply for a low deposit Keystart home loan. You’ll find these when you click Apply Now on the Keystart website. You can also complete the pre-qualification step online and find out how much you might be able to borrow.

As always, you can contact our team with any questions about building your first home or applying for a low deposit Keystart loan.