Shared Equity Home Loans in WA
Talk to WA’s award-winning home loan and personal finance experts about how shared equity schemes can help you buy a home sooner.
Shared Equity: A Smarter Path to Home Ownership
With Perth property prices continuing to rise and rental vacancies remaining tight, saving a traditional 20% deposit can seem impossible. For many Western Australians, the challenge isn’t managing a mortgage – it’s getting through the front door.
That’s where Shared Equity can make all the difference.
Shared Equity schemes are designed to help eligible buyers enter the property market sooner by reducing the amount they need to borrow and the deposit required upfront. By partnering with a government-backed program, you can secure a home with less financial pressure and greater confidence.
What is a Shared Equity Home Loan?
A Shared Equity Home Loan allows you to purchase a property alongside a government partner who contributes a portion of the purchase price.
In Western Australia, programs such as the Keystart Shared Ownership Home Loan and the Federal Government’s Help to Buy Scheme can contribute a percentage of the property’s value, reducing the size of your mortgage and making home ownership more accessible.
Because you’re only borrowing for your share of the property, the benefits can be significant.
Key Benefits:
- Lower Deposit Requirements – Purchase a home with a deposit as low as 2%.
- No Lenders Mortgage Insurance (LMI) – Avoid the cost of LMI, potentially saving thousands.
- Reduced Monthly Repayments – Borrow less and enjoy lower mortgage repayments compared to purchasing on your own.
- Government Support Without Extra Interest – The government shares in the property’s ownership but doesn’t charge rent or interest on its portion.
WA Shared Equity Pathways at a Glance
Western Australia offers specific shared equity initiatives tailored to different types of buyers. Two of the primary pathways include:
What happens later down the track? With a Flexible Shared Equity structure, as your income grows or your property value increases, you can choose to buy back the government’s share over time until you own 100% of your home outright.
Are You Eligible for WA Shared Equity?
Eligibility requirements vary between programs, but most WA shared equity schemes generally require that you:
- Are at least 18 years old and an Australian citizen or permanent resident.
- Intend to live in the property as your principal place of residence.
- Meet the relevant income and property value limits.
- Do not own any other residential property or land in Australia.
Is Shared Equity Right for You?
Whether you’re a first home buyer, a single parent, or someone struggling to save a large deposit, Shared Equity programs may provide a practical pathway into the property market.
At Westgate Home Loans, we’ll help you understand your eligibility, compare available options, and guide you through the entire application process from start to finish.
Ready to Explore Your Options?
Talk to the Westgate Home Loans team today and find out whether a Shared Equity Home Loan could help you achieve home ownership sooner.
