The Department of Housing offers a range of home ownership products through its lending provider, Keystart
Home Loans. Keystart
is an initiative of the State Government to assist Western Australians into affordable housing.
These loan products help eligible people to buy their own homes through low deposit loans and shared equity schemes. Specific loan assistance is available for public housing tenants, sole parents, people living with a disability and Aboriginal borrowers.
Specific information on eligibility requirements and the products available through Keystart can be obtained by contacting Keystart on 1300 720 855 or visiting their website www.keystart.com.au
What is shared ownership?
To assist further with affordability, some loans include a shared ownership arrangement.
This means that the home buyer purchases a property with the Department of Housing, so there are two owners.
The objective of this arrangement is to minimise overall costs for the buyer. For example, the Department may purchase 20 per cent of the property, which means the home buyer is only responsible for total repayments on 80 per cent of the property.