HomeStart Finance Home Loans

HomeStart Finance is a specialist home loan provider owned by the South Australian government.

What home loans does HomeStart Finance offer?

At the time of writing, HomeStart Finance offers a variety of home loan products with fixed and variable interest rate options, including:

Low deposit home loans

  • Graduate Loan
  • Low Deposit Loan
  • HomeStart Home Loan

Borrowing boost loans

  • Advantage Loan
  • Shared Equity Loan
  • Newly Singles Loan Package
  • Wyatt Loan
  • EquityStart Loan

HomeStart Finance also offers loans that it says are designed to help borrowers unlock equity in an existing home that they own.

Canstar does not currently compare HomeStart Finance home loans, but you can compare other home loans providers on Canstar’s database:

Compare Home Loans

HomeStart Finance home loan features

  • LVR ratio up to 97% depending on the loan product
  • Redraw facility available for some products – terms and conditions apply
  • Additional repayments allowed on selected products
  • No fee for extra repayments
  • Repayments may be made weekly, fortnightly, or monthly
  • Repayment holidays available to some customers on selected products

The inclusions above represent a selection of the features that may be available with HomeStart Finance home loans. Canstar is not making any suggestion or recommendation to you about a particular product. Additional conditions may apply to different features. Check upfront with HomeStart Finance and ensure that you read the product disclosure statement (PDS) or other loan documentation to determine all the current loan terms and conditions for the product you are considering, and whether it meets your needs, before committing to it.

HomeStart Finance Home Loans FAQs

Before applying, consider the eligibility criteria that apply to HomeStart Finance home loans, including:

  • You must be buying or building a home in South Australia for you to live in
  • You must be an Australian citizen or hold Permanent Residency or skilled migrant status in Australia
  • You must be over 18 years of age and have a clear credit history
  • You must have $3,000 of savings held for at least three months, or twelve months of good rental history

If you decide to apply for a HomeStart Finance home loan, you can do this through its website or over the phone.

But first you might like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare other home loans before choosing a product that suits your needs:

Compare Home Loans

HomeStart Finance allows extra repayments on its variable interest home loans. Terms and conditions may apply. Contact HomeStart for details.

To give you an idea of how making extra repayments could save you money in interest over the life of your loan, you might like to try our Extra Repayments Calculator.

Home Loans Extra Repayments Calculator

HomeStart Finance’s variable rate home loans offer a redraw facility if you have made voluntary repayments on your loan. Fees and charges may apply to use of a redraw facility. Contact HomeStart for details.

If you’re in the market for a home loan, compare some of your home loan options with Canstar:

Compare Home Loans

HomeStart Finance is a lender wholly owned by the Government of South Australia. It states that its goal is to provide lower-cost home finance to as many South Australians as possible. HomeStart offers several loans targeted at people who may find it difficult to purchase a home, such as recent graduates, newly single people and low-income families. HomeStart offers certain equity options that allow you to borrow more at low rates, often comparable to CPI, in order to get yourself a home sooner. It also provides community sponsorships to organisations such as TAFE SA and Netball SA.

Compare Home Loans

Written by: Sam Bloom | Last updated: November 21, 2018

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