Keystart Home Loans
At Now Living, we pride ourselves on offering affordable house and land packages to suit all budgets and situations, and in partnership with The Loan Company^ we can help assist you in finding the home and the loan that’s best for you.
What is a 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 one. It is available to both first and non-first home buyers across Western Australia.
Keystart home loans offer the following features:
- A 2% deposit, of which only 1% needs to be genuine savings
- Reduced repayments during Construction*
- No mortgage insurance
- Loans to those who have had defaults or been bankrupt
In light of Labor and Liberal’s election promises, Keystart have also announced its plan to help first home buyers. As of 1 July 2019, Keystart will be increasing the maximum income limits for their low deposit home loan by $15,000 for singles & couples and $20,000 for families.
This means if your household annual income was too high to apply for Keystart’s Low Deposit Home Loan, you may now be eligible. For those looking to buy or build a home valued up to $480,000 in the Perth Metro Area, your income can now be up to:
- $105,000 for singles
- $130,000 for couples
- $155,000 for families
The changes will come into effect for the second half of the 2019 calendar year and revert back to the current levels from 1 January 2020.
Find out how we can get you into your brand new home sooner, click here and fill out this form, and our team of experienced professionals will be able to assist you further.