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Do you know all there is to know about the Keystart criteria changes? It’s good news for WA!

With Commodore Homes, you can trust that we’ll be here to help every step of the way, and that includes making sure you’re aware of Keystart and government eligibility changes, especially if they could help you on your road to property ownership.

Plus, with a large selection of home designs, calculated to offer you more bang for your buck anywhere in Perth, we’ve got all your interests at heart. What’s more, our partnership with The Loan Company means we search high and low to make sure you get the best product at the best rate, so you don’t have to!

Keystart could be the key!

The aim of the Keystart Home Loan scheme is to make home ownership affordable for everyone, so you don’t need to worry about constantly saving for a deposit. These specifically designed low deposit home loans offer Western Australians another option, with no lenders mortgage insurance and no ongoing monthly account keeping fees!

Keystart Criteria

  • Available to owner occupiers only
  • You must be buying or building in Western Australia to qualify
  • There is no rule that you must be a first home buyer or subsequent home buyer to be accepted.

How you could be affected by the recent Keystart updates:


Did you know hear the latest Keystart income criteria updates? Big changes could have a big impact on you – keep reading to see if recent events will make the world of difference to your buying process…

The Keystart lending criteria now applies to singles, couples and families, so they’ve included everyone in the new updates. Changes announced mean metropolitan income limits have increased up to $20,000 – is this the news you’ve been waiting to hear?

Keystart’s metropolitan income limits:

  • Singles – up to $90,000, previously $75,000
  • Couples – up to $115,00, previously $95,000
  • Families – up to $135,000, previously $115,000

Reasoning behind change:


“The tight lending policies by the finance sector has left a number of Western Australians unable to get a loan because they don’t earn enough, on the other hand they earned too much to qualify for a Keystart loan. These changes to income limits means these people will no longer have to stay trapped on the rental roundabout or to still be living at home with mum and dad,” said Keystart Chairman, Glyn Yates.

“Not only will a relaxing of income thresholds allow more people to enter the property market but 80% of them will choose to build new homes.”

Keystart’s lending criteria was tightened during the 2014-15 Budget to assist in the State’s debt management. But following the recent, purchase of $1.35 billion worth of Keystart’s loans by the Bendigo and Adelaide Bank, Keystart has been able to broaden its lending criteria.

“The changes are expected to result in Keystart approving 2,200 additional loans up until June 2020. ” added Mr Yates.

Would a Keystart Home Loan suit your needs?


Whether you’re finding it hard to save enough for a big deposit due to rent, or you were just outside of the criteria before recent changes – Keystart are all about helping Western Australians purchase with ease.

Loan features:

  • 2% deposit, of which only 1% needs to be genuine savings
  • Reduced repayments during Construction
  • No mortgage insurance
  • Loans to those who have had defaults or been bankrupt

Find out if you qualify today – speak to our expert team


Our finance specialists, The Loan Company can help advise you on whether you qualify for a Keystart loan, and next steps to take. Simply give us a call, or take a look at our clever Loan Calculator to discover what you can afford.

Finance covered? Now for the FUN!

If you know your price bracket and have a home loan in mind, why not take a look at our stunning range of affordable home designs, we’re sure you’ll find something to suit your style and budget.

Categories: Finance
Tags: Home FinanceHome Finance Resources