Advantage Loan

Are you on a limited income and feel like owning a home is out of your reach?

HomeStart may be able to help with our Advantage Loan.

When you take out a HomeStart Home Loan, you may also have the option of taking out the Advantage Loan. The Advantage Loan offers those on a lower income the power to purchase the home that they want, without increasing loan repayments.

What are the benefits of the Advantage Loan?

The Advantage Loan means that you can top up your loan by up to $28,000. The added incentive is that this loan has a subsidised interest rate that is significantly lower than standard home loan rates. If you can pay the Advantage Loan off within the rebate date (usually five years), you won't pay any interest on that component of your home loan!

Even if you take longer than the rebate date to pay off the Advantage Loan, you can still enjoy a subsidised interest rate that stays lower than the standard variable interest rate for the life of the loan.

Am I eligible?

To be eligible for the Advantage Loan, you must:

• Have an income of less than $750 per week ($39,000 per year before tax)
• Borrow the maximum HomeStart Home Loan amount for which you are eligible

Tell me more

Terms, conditions and eligibility criteria apply. Fees and charges are payable.