Low Deposit Loan

Low Deposit Loan

HomeStart's Low Deposit Loan offers a low deposit option to buy a home in metropolitan South Australia. It’s a good option for first home buyers and next home buyers. To get started, you need clear credit and a good savings history.

Available when buying a home in South Australia, for residential use only.


Buy existing  Buy an established home in a metropolitan area across South Australia. Not available for construction. 
Low deposit Get started with as little as a 3% deposit plus upfront costs to buy an established property.
Save on Lenders Mortgage Insurance (LMI) Most lenders charge Lenders Mortgage Insurance. HomeStart does not charge LMI.
Manageable home loan repayments Our Repayment Safeguard helps take the stress out of interest rate changes by making your repayments more predictable. 
Interest rate options Choose a variable, fixed or split interest rate. Fixed rates are available for terms of 1-3 years.
No monthly account keeping fees HomeStart's home loans have no account keeping fees.
Voluntary loan repayments Fee free voluntary repayments (capped at $10,000 p.a. for fixed rates).
Redraw Available after 12 months if you have made voluntary loan repayments.
Use your equity As your equity grows, you may have the option to use it to renovate or make home improvements.

Low Deposit Loan fact sheet     Target Market Determination

Have a Certificate III or higher qualification? You may be eligible for HomeStart's Graduate Loan.

You can also learn more by visiting our educational website MyStart for useful tips on savingbudgeting and buying a home.

*May not be available for all regions.
Eligibility criteria, terms and conditions apply. Fees and charges are payable.