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Founded: 1989

Lender Type: Specialist Lender

Owned by: State-Owned

Keystart was created as an initiative by the Government of Western Australia Housing Authority to help borrowers purchase a home without having to come up with a large deposit. They have special products for different populations such as sole parents, people with a disability, and aboriginal borrowers. Low deposit loans with competitive interest rates can be difficult to find, barring some individuals and families from home ownership. Using a unique low deposit scheme, eligible borrowers who may have been turned down by other banks can qualify and begin their dream of owning their own home. Keystart doesn’t charge ongoing monthly account fees or lender’s mortgage insurance, and the Housing Authority will take responsibility for a portion of the loan, making it even easier to manage mortgage repayments.

Key Benefits

No LMI for qualified borrowers
Affordable loans for some borrowers
Low deposit loans


High-interest rates
Lots of restrictions make qualifying difficult
Limited loan flexibility

Home Loan Products

Compare Home Loans

Home Loans Description

Aboriginal Home Loan

Eligible borrowers can put down a 2% deposit to qualify for this home loan. No LMI or genuine savings required. You can also make extra repayments to help pay off your debt faster. To qualify your income must fall below a cap, depending on your household size, and your other debts must be under control.

Disability Home Loan

If you have a disability you likely also have a limited income. Keystart has an affordable home loan product that can help you get into your own home. You’ll need a 2% deposit and existing debt repayments cannot exceed 10% of your gross income. Also, your chosen property can’t exceed a maximum property value, which varies depending on where it is located within Western Australia.

Goodstart Home Loan

Both first-time homebuyers and subsequent buyers can apply for Keystart’s Goodstart Home Loan product with a 2% minimum deposit. As with their other products, there are no loan keeping fees and you won’t have to pay lender’s mortgage insurance. Income and debt limits apply so make sure you check to see if you may be eligible or not.

Keystart Country Housing Loan

This loan product was designed specifically for farmers who want to build, purchase, or renovate a home. A 20% deposit is required but equity such as farming property can be used as a security. For those who qualify, this loan can be an excellent opportunity for affordable home ownership in the country with no fees, no LMI requirements, and the ability to make extra repayments or choose a range of repayment options.

SharedStart Home Loan

With this loan, the Housing Authority will own up to 30% of the property. This shared equity scheme can be just what you need to get into your own home and to stop the rent cycle. You’ll need a minimum 2% deposit and there are restrictions on your income and debt levels.

Sole Parent Home Loan

This loan gives single parents the chance to purchase their own home. Sole parents can face unique challenges, such as living on one income, let alone the challenges of raising children without the help of a second parent. As with the other Keystart loans, you’ll need a 2% deposit and there are income and debt limits you’ll need to meet.

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