Department of Housing & Works

This Weeks Episode of Home in WA

Cristina Shaw



08 9222 4854

08 9221 2551

99 Plain Street
East Perth WA 6004

Keystart was set up in 1989 by the WA Government to help Western Australians buy or build their own home. Keystart has helped more than 45,000 Western Australian get into households, and expect to help over 4,000 more households in 2004.

Keystart's greatest strength is that it helps people who find it hard to save a deposit to buy their own home. You may only need a low 2% deposit or $2000, whichever is the greater, to get you started if you are purchasing a home for $250,000 or less. Also Keystart accepts the $7,000 First Home Owners Grant as your deposit, so if you are eligible for the grant you might be able to buy your home straightaway even if you have nothing saved.

If you are not eligible for a First Home Owners Grant, Keystart may lend you up to $2000 extra for assistance with fees, as long as the total amount borrowed does not exceed the amount you are eligible for.

Another big advantage of Keystart is that, even if you don't have a large deposit, you do not have to buy mortgage insurance. You can save thousands right from the start.

Keystart can be more flexible than traditional financial institutions when it comes to assessing income. For instance: Keystart take into account all your earnings including wages, salary, family tax benefit, Centrelink payments and child maintenance received. They also make special calculations for people in part-time or casual employment and those whose income is in the form of regular commission.

Keystart is not just for low income earners either they can also lend to home buyers with total household incomes of up to $170,000 pa to help them buy or build homes up to $400,000 in value.

Keystart provide free mortgage advice and if your financial circumstances happen to change over the term of your loan you can re-adjust your payment plan to suit.

Give Keystart a call on 1300 361 517 to find out more.