Monday, 3 December 2012

SA easy low rate 3% deposit loan - great reading for all investors

SA easy low rate 3% deposit loan called The Graduate Loan

South Australia Low Deposit LoanWe'll get you started with as little as a 3% depositmore info:

This new incentive will allow an investor to come up with a turn key build or just a nicely renovated or sub divided development and have a buyer ready to purchase. 

This should fuel on the buyers market and also attract a large amount of buyers. By looking at the people to qualify for the Loan you can see what properties might be near their place of work or study. 
By doing this you should be able to also approach these individuals yourself and suggest you develop or even JV a property deal for them.

So next time you get pulled over by a cop in SA ask them if they own their own home and maybe you could do a deal. 


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.

The Graduate Loan is a low deposit home loan with flexible loan options, to help you buy or build your own home sooner. It’s a good option for first home buyers, next home buyers or to refinance.

It’s available to graduates with a diploma, 

a degree or 
a higher qualification
as well as 
specific tradespeople and 
technicians with a Certificate III/IV
South Australian Police Officers and  
South Australian Nurses.  
Also If you’ve 
completed your study within the last 10 years you could be eligible. 

Download our Low Deposit Loan fact sheet PDF (190KB) You can also learn more by visiting our educational website MyStart for useful tips on saving, budgeting and buying a home.

Terms, conditions, and eligibility criteria, fees and charges apply.

Choosing the right home loan is an important part of the home buying process.

5 reasons why a HomeStart home loan could be the right choice for you:

Get started:

And an alternative to Lenders Mortgage Insurance (LMI)

1. Get started for less money upfront

Does buying a home seem a long way off? We’ll get you started for less money upfront, which can help you get into a home of your own sooner, including an alternative to Lenders Mortgage Insurance (LMI) and no monthly account keeping fees.

An alternative to Lenders Mortgage Insurance (LMI)
HomeStart has a Loan Provision Charge (LPC), which is significantly less than LMI for most borrowers.
Example: Compare LMI and LPC costs based on a $300,000 property*
LMI or LPC charge*
*LMI and LPC are approximate figures only, assumptions are based on property value of $300,000, loan amount of $285,000 which is 95% of the property value for a first home buyer. Different LPC apply for Construction and Seniors Equity Loans. Figures sourced online and are correct as at April 2012.
No monthly account keeping fees
HomeStart home loans have no monthly account keeping fees, so you can pay less in fees and more towards your loan.

2. Get started with as little as a 3% deposit

Struggling to get a deposit together? We’ll get you started with as little as a 3% deposit.
  • HomeStart's Low Deposit Home Loan could get you started with a 3% deposit – you’ll need $3,000 in savings and a clear credit history to get started.
  • Graduate Home Loan - Graduates (including uni, diploma, nurses, teachers, police) could be eligible for the Graduate Home Loan. Get started with a 3% deposit with the option to buy or build.
Compare HomeStart’s home loans to find out how you can get started sooner.

3. Borrow up to 35% more with us

Borrow more with HomeStart’s range of top up loans:
  • Breakthrough Loan – borrow up to 35% more with the help of this top up loan
  • Advantage Loan – if you’re on a limited income, this loan can help you borrow more
  • Wyatt Loan – The Wyatt Benevolent Institution can help cover the start up costs of buying a home
  • EquityStart Loan – current public housing tenants can borrow more with this additional loan
These loans can be combined with a HomeStart home loan to help you borrow more.

4. Manageable home loan repayments

HomeStart offers a range of home loan repayment options to help tailor a home loan to suit your needs.

Non-interest linked repayments
The Repayment Safeguard helps break the link between interest rates and repayment amount. We determine your initial repayments based on your financial situation and typically adjust what you pay once a year in line with inflation. This means in most cases, your repayment amount will only change every 12 months, giving you peace of mind knowing what your loan repayments will be month-to-month.
Interest rate options
Choose from a variable, fixed or split interest rate available on some home loans. Fixed rates are available for terms of 1, 2 or 3 years.

5. Proudly South Australian

HomeStart is proud to be a South Australian organisation. We only operate in SA, with a branch in Adelaide and a network of accredited HomeStart lenders located across metropolitan Adelaide suburbs and regional locations.
Find out more about HomeStart as an organisation, or contact us.

Wonder what it’s like to buy a home?
Watch these short videos of HomeStart customers talking about their home ownership journey, and why a HomeStart home loan was the right choice for them.