Keystart Home Loans work to help customers in Western Australia who have difficulty obtaining a home loan from mainstream lenders.
Keystart was founded by the Department of Housing in Western Australia, with the aim of providing affordable housing to all residents. Since 1999, Keystart has helped more than 85,000 borrowers secure a home at a more affordable rate. Keystart home loans are available to all groups, in particular those who suffer from disabilities, sole parents, and indigenous borrowers. Loans are also available to ordinary borrowers who meet the eligibility criteria.
Keystart home loans require a smaller deposit than loans offered by mainstream lenders. This often results in Keystart loans being more affordable. Shared ownership schemes are also available, making financing available to borrowers who might not meet the criteria of traditional lenders. Keystart also allows homebuyers to co-own their property with the Department of Housing, meaning borrowers are liable for only a portion of the total price of their home.