What is the basic eligibility criteria needed to apply for a HomeStart Loan?
• Be over 18 years of age • Have a regular income (this can include Centrelink benefits) • Have permanent residence status or citizenship in Australia • Be purchasing a home within South Australia and planning to reside in it Other criteria may apply depending on which home loan solution is right for you. I’m not a first homebuyer. Am I still eligible for a HomeStart Loan? Yes, as long as you meet HomeStart’s eligibility criteria. How much can I potentially borrow? It may be possible for eligible applicants to borrow between 3.6 and 4.2 times their income. And if you choose to go with the Breakthrough Loan, the amount that you borrow can be even higher. How can I get an idea of how much I might be able to borrow? With HomeStart’s Borrowing Calculator, you can see how much you might be able to borrow. All you need to know to use the calculator is your yearly income (before tax) and any debt that you may have. What fees are associated with a home loan? There are a number of fees associat
