Effective 20 August 2025

Keystart has lifted its property price limits to $800,000 for the Low Deposit Home Loan across all WA regions, and to $660,000 for the Shared Ownership Home Loan. Income limits are unchanged. Keystart loans still allow deposits from 2% with no Lender’s Mortgage Insurance (LMI).

What changed — at a glance: 

Low Deposit Home Loan (statewide, incl. metro & regional):

1. New property price limit: $800,000
2. Income limits: Singles $148,000; Couples/Families $218,000
3. Kimberley & Pilbara income limits: Singles $225,000; Couples/Families $285,000
4. Effective: 20 Aug 2025
5. Note: Income limits did not change in this update.

Shared Ownership Home Loan (statewide):

1. New property price limit: $660,000
2. Income limits: Singles $123,000; Couples/Families $189,000
3. Effective: 20 Aug 2025
4. Note: Income limits unchanged.

Why the change? Keystart now reviews price caps regularly against REIWA median prices (a reform from Dec 2024) so settings better track the market.

A quick refresher on Keystart (and why buyers ask about it)

Keystart’s mission is to lower the up-front barrier to home ownership with deposits from 2% and no LMI. That can mean thousands saved versus many mainstream loans.

Example: On a $600,000 purchase, a 2% deposit is $12,000 (plus costs), which can get you into the market sooner.

General eligibility still applies (income and property price limits, WA residency, owner-occupier, and credit/servicing criteria).

Who could benefit from the new caps?

1. First-home buyers who were priced out by previous caps — especially in metro growth corridors. See our page for First Home Buyer home loans for step-by-step help.
2. Regional buyers, with statewide parity at $800k for the Low Deposit Home Loan (including the North-West).
3. Single-income households and families near the published income limits.
4. Apartment buyers considering Shared Ownership.

What to watch before you apply

Borrowing capacity & repayments: Caps don’t change serviceability — we’ll model repayments with current rates/buffers. Try our borrowing power calculator and stamp duty calculator to sketch scenarios.

1. Upfront costs: Even with a 2% deposit, plan for purchase costs (duty, fees, inspections).
2. Build vs established: Some grants/conditions differ; we’ll map the best path for you.
3. Future refinance pathway: Keystart is often a “get-in-sooner” step; many clients refinance later once equity and circumstances improve. Read our explainer: Is it time to refinance your Keystart home loan? (2021) and Refinancing your Keystart loan (2017).

How Blackburne Mortgage Broking can help

1. Eligibility check in minutes: We’ll confirm where you sit against the new price and income settings.
2. Compare your options: We’ll show Keystart alongside mainstream lenders so you can see pros/cons (deposit, LMI, repayments, total cost).
3. Maximise your budget (safely): We run scenarios (e.g., $650k vs $720k vs $800k) so you understand repayments and buffers.
4. Plan your pathway: If Keystart is your entry point, we’ll outline a realistic refinance plan to reduce costs over time.

Ready to explore your options?

Book a chat now — our Perth team will assess your eligibility and compare lenders for you.

FAQs

1. What is the new Keystart price limit in WA (2025)?
   $800,000 for the Low Deposit Home Loan statewide and $660,000 for Shared Ownership, effective 20 Aug 2025.
2. Did income limits change?
   No—income limits are unchanged in this update (with higher thresholds for Kimberley & Pilbara).
3. What deposit do I need and is there LMI?
   Keystart loans feature deposits from 2% and no Lender’s Mortgage Insurance (LMI), which can reduce upfront costs significantly.
4. Why are the caps reviewed more often now?
   Following Dec 2024 reforms, Keystart reviews price limits regularly against REIWA median prices to reflect market conditions.

Disclaimer: This article is general information only and not personal advice.