Low Deposit Home Loans with Keystart

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eLend Finance is an Accredited Mortgage Broker with Keystart.  We’re passionate about making the dream of home ownership a reality!  A Keystart home loan can help you buy an established home or build.  Keystart was developed by the Western Australian government, specially to help Western Australians enter the property market who may not have a sufficient deposit saved for a loan with a traditional lender.

Is a Keystart loan right for you?

A Keystart home loan is suitable for first home buyers and subsequent buyers planning to build a new house or buy an established property with a low deposit for owner-occupied purposes.

Benefits of a Keystart home loan:

  1. Available to first home buyers and subsequent purchasers who don’t currently own property in their name (or at settlement).
  2. Deposit from as low as 2% required (and can meet Keystart lending criteria).
  3. No lenders mortgage insurance, which can save you thousands.
  4. Refinance whenever you’re ready.

We will help you apply for a Keystart loan

Not sure which loan is right for you? Don’t worry, when you start a home loan application, we will help you decide which loan is suitable for your needs. We’ll consider your goals, objectives and financial situation. Contact us for a free no obligation appointment or phone all today!Top of Form

New Income Limits for the standard Low Deposit Home Loan until June 2022. 

In July of this year, Keystart announced an extension of its temporary limits from the 30th of June 2021 –  30th  of June 2022.  Keystart anticipates that the 12 month increase on temporary limits will help revitalise Western Australian’s building sector, in addition to making home ownership more accessible for thousands of Western Australians.

The following tables have been taken from https://www.keystart.com.au/guides-and-tips/blogs/blogs-detail/keystart-income-limits-extended .

Region New Income Limits Property Price Cap
Metropolitan area $105,000 (Singles)

$130,000 (Couples)

$155,000 (Families)

Regional Areas (excluding Kimberley & Pilbara $125,000 (Singles)

$150,000 (Couples)

$155,000 (Families)

Kimberley $135,000 (Singles)

$165,000 (Couples)

$170,000 (Families)

Pilbara $165,000 (Singles)

$195,000 (Couples)

$200,000 (Families)



LMI savings demonstrated below

Keystart Other Lenders
Minimum Deposit From 5%
Lenders mortgage insurance (LMI) $0 $10,450.61*
Monthly Account keeping fees Nil $8**


* Results based on Genworth LMI premium calculator. Property value $327,400, loan amount $311,300, loan to value ratio (LVR) 95%, first home buyer, loan term up to 30 years.

(Source: https://www.keystart.com.au/why-keystart)

** Loan administration charge for Standard Variable P&I Owner Occupied Home Loan from Commonwealth Bank, NAB & Westpac.