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We are planning some website maintenance on Thursday 3 April, from 5:10 pm until 7:00 pm. You may experience some issues with tools and forms. You may also experience issues on the app, or application tracker during this time. If you are a Keystart broker, please note the loan app will not be available during this time. We apologise for any inconvenience caused.

Low Deposit Home Loan

Make your dream of owning your home a reality. Get into a home of your own sooner, with a home loan deposit from as low as 2%. You can choose to buy established or build. You may even be able to use your first home owner grant towards your deposit. Learn more.

Choose a low deposit home loan designed to get into your own home sooner.

Loan features:

  • Deposit from as low as 2%
  • You can use your first home owner grant (FHOG) towards your deposit if you decide to build a new home.
  • No lender's mortgage insurance
  • Choose what you buy; an established home or a new build

A low deposit home loan

With our low entry costs, you can get into a home of your own sooner.

  • Low deposit

    • With our low deposit, it might not take you long to save the required amount. 
    • If eligible, you can use your first home owners grant (FHOG) towards your deposit if you decide to build a new home.
  • No lender's mortgage insurance

    • We don't charge lender's mortgage insurance saving you thousands. Lender's mortgage insurance is an insurance policy to protect the lender, not you. 
    • It is standard banking industry practice to charge lender's mortgage insurance if you're borrowing more than 80% of the purchase price of your home.
  • We get you started

    • We help you get into home ownership earlier with low entry costs. 
    • When you're ready to move on to another lender, we encourage you to do so.

Rates and fees

For purchasing homes in the

Maximum purchase price of a home:


% PA
% PA
Click for more info
Click for more info

Deposit required

Maximum loan term

  • Lender's mortgage insurance $0
  • Additional repayments allowed? Yes
  • Flexibility in repayment frequency Yes
  • Monthly account keeping fees $0
  • Loan increases? Click for more info
  • Statement frequency 6 Monthly

Calculate estimated repayments Click for more info

Purpose of the home loan Click for more info

Payment frequency

Based on borrowing: $715,400 Click for more info

$10,000
$362,700
$715,400

Loan term of: 30 years

7 years
30 years

Income limits

Just me (maximum income)
Two of us (maximum income)
Family (maximum income)

Five simple steps to home ownership

Getting your own home is an exciting time and will take you on quite a journey.

  1. Do you qualify?

    We have a few eligibility requirements - you can find out if you qualify (we call this pre-qualification) in five minutes. Click here to get started.

     

  2. Conditional approval

    Find out how much you can borrow - so you'll know how much you can afford before you put in an offer.

    Start online or you can call 1300 578 278 to chat with our team. 

  3. Formal loan approval

    So, you've made an offer on a property. Exciting times! To move to formal approval you'll need to meet any outstanding conditional approval conditions. Then we'll send you documents to sign.

  4. Settlement

    Keystart's settlement agent will liaise with your settlement agent to organise settlement.

    Once settlement has occurred you can move into your new home! 

  5. Manage your loan

    We aim to support you through your home loan journey. The application process is just the beginning. Now you will begin to manage your home loan.

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  • So thrilled to have been able to secure a loan for our dream home that I've been renting for 14 years. It was our last chance to buy and without Keystart I would've had to move during difficult times.

    Amy
    Keystart customer
  • We'd recommend contacting Keystart to get your dream started. Any question we had was answered and we felt during the entire process they had our backs. Any hurdles Keystart were happy to help us.

    Scott H
    Keystart customer
  • Everyone on the team were great to deal with and made the stress of buying a house so much easier. Thank you!

    Hayley
    Keystart customer

Let's get started

A low deposit shared home loan may be closer than your think. If you're ready to apply, follow the steps to see if you qualify.

  • How much can I borrow?

    By giving us a few basic details, we can tell you how much you may be able to borrow.

    How much can I borrow?
  • Ready to apply?

    Find out if you qualify for a Keystart loan.

    Apply now
  • What would my repayments be?

    Try our repayment calculator.

    Repayment calculator

Low Deposit Home Loan FAQs

  • Q What happens to my first home owner grant?
    A

    The first home owner grant (FHOG) WA is a one-off payment funded by the Government of Western Australia and administered by the Department of Finance, Office of State Revenue. The grant is to assist first home buyers get started with their first home.

    If you are eligible, Keystart allows you to use the FHOG funds towards your home loan deposit, so you can get started on your home ownership dream sooner.

    The FHOG in WA only applies to first home buyers who are building or purchasing a newly built home.  It is no longer available if you choose to buy an established home however, you may be eligible for other benefits, like concessional stamp (transfer) duty.

  • Q Can I buy an investment property?
  • Q Other than the deposit, what other costs are there?
  • Q Can I buy anywhere?
  • Q Do I have to be employed to get a loan?
  • Q What type of home can I buy?
  • Q I have owned a property before. Can I apply?

Try our two new financial wellbeing quizzes

Get a big-picture look at your wellbeing or find out how your attitudes and beliefs impact your financial behavior.