Low Deposit Loan

Get into your own home sooner
with as little as 3% deposit

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.

Features Low Deposit Loan fact sheet
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 to buy an established property.*
Save on Lenders Mortgage Insurance (LMI) We charge a Loan Provision Charge (LPC), which is much less than LMI for most borrowers.
Manageable home loan repayments Our Repayment Safeguard breaks the link between interest rates and repayment amounts.
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.
Repayment holidays Take a break from your home loan repayments.
Use your equity As your equity grows, you may have the option to use it to renovate or make home improvements.

Apply now

Download our Low Deposit Loan fact sheet PDF (237KB)

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.
*May not be available for all regions.

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sa.gov.au - South Australian Government Mortgage & Finance Association of Australia