Homestart Portal

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Updated: June 06, 2022

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Homestart.com.au

FAQs

1

Is HomeStart a good idea?

Homestart provides lots of flexibility and features which makes getting a loan with them quite appealing. ... Secondary loans for increased borrowing power. Variable, fixed and split interest rates to choose from. More predictable repayments with their Repayment Safeguard.
2

How do you qualify for HomeStart?

Eligibility. You may be eligible if you qualify for a primary HomeStart loan, have a net household income of less than $65,000 for singles and $90,000 for couples, not own another property and have enough funds to cover the deposit, but not enough for the remaining upfront costs, like Stamp Duty.
3

Does HomeStart charge LMI?

Most lenders charge Lenders Mortgage Insurance. HomeStart does not charge LMI. Our Repayment Safeguard helps take the stress out of interest rate changes by making your repayments more predictable. Choose a variable, fixed or split interest rate.
4

How much do you need for a house deposit south australia?

Generally, banks and financial institutions will recommend you have a deposit of at least 20% of your prospective property's purchase price. So, if we go back to our $400,000 home, you'd want to provide $80,000.
5

How much deposit do I need for a HomeStart?

HomeStart can provide loans from as little as 3% deposit and we do not charge LMI.
6

Can I buy a house on Centrelink?

The short answer is yes; you can get a home loan if you are receiving Centrelink payments. But if Centrelink is your only source of income, it's unlikely that a lender will approve you for a home loan. If someone in your household is in paid employment, this will increase your likelihood of securing a loan.
7

How much deposit do I need to borrow 400 000?

In most cases, home loan lenders will lend up to 80% of the property value, meaning you'll need to come up with the other 20% (your deposit). For a property of $400,000, for example, you'll need a cash deposit of $80,000.
2. Homestart.net.au

Since 1988, HomeStart has proudly helped thousands of Western Australians escape the rent trap and achieve their dream of home ownership.

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