On 1 May 2019 Keystart Home Loans announced an increase to their income limits to allow more West Australians access to their low deposit home loans.

The changes are available to all applicants who enter into sales contracts to purchase an established property or build a new home from 1 July 2019 until 31 December 2019.

General Manager of InReach Finance Dean LaFrenais, explains below:


The income limits for Keystart home loans are:

Key Benefits of a Keystart Home Loan

1. 2% Deposit Requirement

  • First Homebuyers may use 1% from their First Home Buyers Grant
  • Funds can be obtained from any source
  • No 3-month genuine savings requirement
  • Significantly less than the minimum bank requirement of 5%

2. No Mortgage Insurance (LMI)

  • Save thousands in LMI costs. A similar loan at a bank would see a borrower paying over $16,000 in LMI costs.

3. No ongoing monthly account keeping fees
4. Reduced payments during the construction period

  • Clients have the option to pay $50 per week until construction is complete.

5. First home buyers who build can utilise their First Home Buyers Grant ($10,000) to assist with their settlement agent costs and bank fees.

Consider this Keystart scenario…

John & Mary have a combined income of $130,000.

They share a $10,000 credit card and make payments each month on time.

John & Mary are looking to build their first home as they are sick of renting. They have been told that they meet Keystart’s requirements.

John & Mary have met with Blueprint Homes and they are considering purchasing a block for $200,000, with the cost of their home being $200,000.

The total cost of their house and land package is $400,000.

John & Mary will require a personal contribution of $4,000 as their deposit with all other costs coming from their first home buyers grant.

Does this sound like you?

If so, contact Blueprint Homes today to find out how we can get you into your new home fast with a Keystart home loan.

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Blueprint Homes is not a provider of finance or credit facilities. Any information shown is facilitated by InReach Finance. Authorised credit representative of DMEE holdings Pty Ltd Australian Credit license 469248. Terms conditions, fees and charges may apply. 10% deposit is required.



Scott Cam