Keystart Home Loans – WA Government's Aboriginal Home Loan

Kirsten Craze, Property Journalist

First published 03 February 2025, 12:00 PM

Keystart in an initiative launched by the Western Australian Government aimed at helping people into home ownership by lowering entry cost barriers and eliminating the need for Lenders Mortgage Insurance (LMI). The scheme was established in 1989 by the Labor State Government in WA. Keystart offers six home loans, including the Aboriginal Home Loan.

What are the Keystart Aboriginal Home Loan eligibility requirements?

Individuals or couples applying for the Aboriginal Home Loan should be:

Over 18 years of age
Purchasing a home to live in, not an investment property
An Australian citizen or permanent resident residing in Western Australia

You also need to have a stable income or regular employment for at least six months. While Keystart does accept some Centrelink benefits as income, your total income will ultimately impact the amount you’ll be able to borrow through the program.

Individuals applying for the Aboriginal Home Loan will need to earn less than $148,000, while eligible couples will be earning under $218,000. Purchasers looking to buy in the Kimberley and Pilbara regions will be subject to different income caps of $225,000 for individuals and $285,000 for couples.

What are the Keystart Aboriginal Home Loan property price limits?

Homes bought as part of the Aboriginal Home Loan program will need to be priced under $730,000.

Benefits of the Keystart Aboriginal Home Loan?

This tailored loan has been designed to make home ownership more affordable for more Aboriginal and Torres Strait Islanders.

Low deposit and no LMI

You can get into a home loan with just 2% deposit and don’t need to pay Lender’s Mortgage Insurance.

Assistance on hand

With Keystart you will have a dedicated Aboriginal home ownership team to assist you throughout the application process.

Two loan types on offer

This flexible scheme has two types of loans on offer, giving homeowners the opportunity to find the right mortgage for their individual circumstances. Buyers can choose between full ownership and shared ownership with the Housing Authority.

Who is the Keystart Aboriginal Home Loan backed by?

The loan is backed and administered by the Western Australian Government.

Can the Keystart Aboriginal Home Loan be used in conjunction with other incentives?

Yes. Applicants accessing the Aboriginal Home Loan - who are buying or building a new property - may also qualify for the First Home Owner’s Grant to save a further $10,000 on costs. Additionally, if your first home is priced under $450,000, you might also avoid paying stamp duty, or only pay a concessional rate for purchases between $450,001 and $600,000.