What is HomeStart Finance and how is it different from a normal bank?

HomeStart Finance is a South Australian Government-owned lender that specialises in helping people who may not qualify for a standard bank loan. They offer products for low-income earners, people with smaller deposits, single parents, and graduates. Unlike mainstream banks, HomeStart assesses your ability to repay based on your rental history and overall financial behaviour, not just traditional lending criteria. As an accredited HomeStart broker, Lender Edge can access all HomeStart products and assist you in applying for a HomeStart mortgage.

Can I get a HomeStart loan with no deposit?

HomeStart does not offer true zero-deposit loans, but they do have low-deposit options that can work with the First Home Owner Grant and other government support. In some cases, your grant can effectively act as your deposit. Eligibility depends on your income, the property price, and your personal circumstances. Lender Edge will assess whether a HomeStart product or an alternative lender offers you the best overall outcome.

Do I have to be a first home buyer to use HomeStart?

No. While HomeStart is popular with first home buyers, they also offer products for people who have owned property before, including those re-entering the market after a relationship breakdown. Some of their products are specifically designed for single parents. Your eligibility can be checked as part of a free initial consultation.

Are HomeStart interest rates higher than the big banks?

HomeStart rates are higher than the most competitive bank rates, but their lending criteria are more flexible, which means they can approve borrowers who would be declined elsewhere. For some buyers, paying a slightly higher rate with HomeStart is the difference between getting into the market now versus waiting years to save a larger deposit. Lender Edge always compares HomeStart against the full market so you can see the trade-off clearly.

Can a mortgage broker help me apply for a HomeStart loan?

Yes. As an accredited broker, Lender Edge can submit your HomeStart application and manage the process for you, just as we would with any other lender. The advantage of coming through a broker is that we simultaneously assess whether HomeStart is genuinely your best option or whether another lender on our panel could offer you a better deal. This comparison costs you nothing.

HomeStart Finance Broker | Fleurieu Peninsula, Adelaide Hills & SA

Basic Eligibility

Are you an Australian citizen or permanent resident?

Are you aged 18 or over?

Do you have a regular income?

This can include Centrelink benefits.

Do you have a clear credit history?

No paid or unpaid defaults, court judgements, or history of bankruptcy.

Do you currently own any property?

Property Details

Will the property be in South Australia?

Will you live in this property as your home?

HomeStart only lends for owner-occupied homes, not investment properties.

Where in SA will the property be?

What are you looking to do?

Are you a first home buyer?

Qualifications

What is your highest qualification?

This determines eligibility for the Graduate Loan (2% deposit). Essential workers include front-line police, firefighters, permanent defence force personnel, and Technical College graduates.

Please answer all questions to continue.

Your details

Enter your contact details to see your results. We will also send you a summary so you have it on hand.

First name *

Last name *

Email *

Phone *

Additional loan options

On top of any primary HomeStart loan, you may also be eligible for the Shared Equity Option (up to 25% of purchase price, interest-free), the Starter Loan (up to $10,000, interest-free for up to 7 years), or the Advantage Loan (up to $70,000 borrowing boost). Each has its own income thresholds and criteria. No Lenders Mortgage Insurance is charged on any HomeStart loan.

Ready to take the next step?

Book a free, no-obligation chat with Lender Edge. We will walk you through your options and help you find the right loan for your situation.

Important: This tool provides a preliminary guide only and is not a formal credit assessment. Eligibility is subject to HomeStart’s full assessment of your financial situation, serviceability, and other lending criteria. Information is based on publicly available HomeStart eligibility criteria as at April 2026.

HomeStart LoanEligibility Checker

Your details

Additional loan options

Ready to take the next step?

HomeStart Loan
Eligibility Checker