Starter Loan

Starter Loan

If you’re finding it hard to save enough for the deposit and upfront costs to buy or build a home, our Starter Loan could provide up to $10,000 to help you get into your own home sooner.

How does it work?

The Starter Loan is a secondary loan taken out with a primary HomeStart loan to help cover the upfront costs for buying or building a home.

The Starter Loan has a seven year term, with no repayments required or interest charged during those seven years. At the end of the seven years, if the Starter Loan is not paid in full, it will be reviewed and may be transferred to your primary loan balance, which may increase your loan term. Depending on circumstances, all or part of the Starter Loan may be extended by HomeStart.


You may be eligible if you qualify for a primary HomeStart loan, have a net household income of less than $75,000 for singles and $100,000 for couples, not own another property and have enough funds to cover the deposit, but not enough for the remaining upfront costs, like Stamp Duty.

The Starter Loan is an initiative of the 2019 South Australia State Budget and supported by the Affordable Housing Fund.

Starter Loan fact sheet    Target Market Determination

Need more information? Visit our educational website MyStart for useful tips on saving, budgeting and buying a home.

Eligibility criteria, terms and conditions apply. Fees and charges are payable. This loan is subject to available funding.