Variable Rate Home Loans - Keystart - Keystart (WA Only) |
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to select a different loan amount and loan term. Currently: $150,000 over 30 years |
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| Home Loan Lender |
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Keystart Home Loan |
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| Home Loan Product Name |
Keystart (WA Only) |
| Interest Rate |
8.74% |
Comparison Rate
Estimated |
8.81% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,178.98 |
Total Paid
Estimated |
$425,115 |
| Establishment Fee |
$675.00 |
| Enquire/Apply |
 
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| Target Market |
To enable clients to purchase an established property or to buy residential land and build with a minimal Deposit - exclusive to Western Australia. |
| Acceptable Income |
Maximum DSR loan = Tiered Structure Based on total DSR of gross income level & dependents as follows:
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Income $35Kpa or below - 36% DSR
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Income above $35K Single/Couple without dependents 42%DSR
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- +Dependents 39%DSR
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PAYG, PAYG under contract, Self Employed, Allowances: Shift, ffshore, Casual, Permanent Part Time, Maintenance, Centrelink Pensions, Aged, Newstart, Youth Allowance, Parenting & Carers Allowance, Sickness & Special Benefits
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Maximum assessed income $170K per application (i.e. per household)
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PAYG, PAYG under contract, Self Employed, Allowances: Shift, Offshore, Casual, Permanent Part Time, Maintenance, Centrelink Pensions, Aged, Newstart, Youth Allowance, Parenting & Carers Allowance, Sickness & Special Benefits
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Maximum assessed income $170K per application (i.e. per household). |
| Loan Term |
Maximum loan term 30 years subject to conditions |
| Loan Size |
Maximum amount $475K (including Fee Assistance)
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Maximum security property value $500K. |
| Repayment Type |
Principal & Interest ( Interest Only for 12 months available for Land Only Loans). |
| Repayment Options |
Weekly, Fortnightly or Monthly though all repayments based on the Monthly payment (e.g. monthly rep divided by 4 for weekly). |
| Extra Repayments |
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| Split Loan Facility |
Not available. |
| Offset |
Not available. |
| Redraw Facility |
Redraws are now available for "all purposes".
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There is no longer the need to supply invoices for work to be completed and the redraw amount can be released back to the client.
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Minimum Redraw is $1K.
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No fee for Redraw. |
| LVR |
Owner Occupier LVR 98%
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Investment Maximum LVR 0
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Construction Maximum LVR 98%
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Refinancing Maximum LVR 98%
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Established & Construction
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Up to $450K 98% Loan to Value ratio
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Over $450K to $500K 95% Loan to Value ratio.
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Refinance - in case of partnership breakdown where a pay out to a partner is required, the Scheme Manager may approve such loans up the Keystart loan maximum taking into account the amount of the existing loans and the additional advance required to pay out he partner.
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Refinance of another institutions loan will not normally be considered unless the refinance is under the Restart Scheme. Please refer to Lender. |
| Fees |
Loan Establishment Fee $500
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Valuation Fee $175- (initial fee includes GST country valuation are subsidised to a maximum amount of $400) note payment of valuation fees can be made by Visa, Bankcard or MasterCard - cardholder to complete in full and sign the authority and fax through or send it with your application.
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Progress Payment Fee $65 (maximum of 3)
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Settlement Fee: N/A
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Legal Fees $239.45 (Fee displayed as Mortgage Preparation )
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Deferred Establishment Fee
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within the first 24months of funding date 0.8%
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between 24 to 36 months of funding date 0.6%
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between 36 to 48 months of funding date 0.4%
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between 48 to 60 months of funding date 0.2%
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more than 60 months from funding date $Nil
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Fees
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Loan increase amounts will include covering
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the fees associated with the increase. These are as follows
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Application Fee $200 (waived when increasing Land Only Loan for Construction)
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Valuation Fee $175 metro, at cost for country areas (No subsidy)
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Progress Inspections $65 per inspection (refer contract) where structural improvements are being completed
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Legal Fees - DHW $22
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Stamp Duty In accordance with current rates. |
| Enquire/Apply |
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| Other Variable Rate Home Loans |
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| Other Keystart Home Loan Products |
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