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Keystart extends their increased income limits

Posted on December 4, 2019 in Blog , First Home Buyer

Keystart extends their increased income limits

The below is provided for general informational purposes only and is not intended as financial advice.

If the end of the year – and the end of Keystart’s income limit increase – was approaching far too quickly for your liking, then this news will no doubt put a spring in your step.

The State Government has announced an extension to Keystart’s temporary changes to income limits for borrowers, which were due to change back to previous limits on January 1, 2020.

This means those looking to get into a new home of their own now have until June 30, 2020 to potentially take those first steps into home ownership!

Unsure what the current limits are? Here’s a refresher:

Income limits Table of information

Keystart was established to help more Western Australians get into the property market. Unlike other loans they don’t require expensive Lenders’ Mortgage Insurance or a history of genuine savings. Keystart deposit can be as low as 2% — a fraction of what the banks ask.

Now that you’ve heard the great news, what’s the catch?

This is a limited time offer! On July 1, 2020, Keystart’s higher income limit will revert back to the previous amount and you may miss out on the Keystart benefits.

Luckily, WA Housing Centre, through our partners at The Loan Company,* is here to help you make the most of this offer. So if you’ve been putting off getting into a new home because you thought it wasn’t the right time, it’s time to reconsider. See if you qualify today.

*Finance provided by Harrisdale Pty Ltd t/as The Loan Company (Australian Credit License No 386355).