Share equity loa

• Have a net household income of up to $120,000 per year, after tax
• Buy or build a home to live in within South Australia. A maximum purchase price limit of $750,000 applies.
• Not have an Advantage Loan with us
• Have no more than $40,000 in retained savings at settlement
• Not own other property

With the Shared Equity Option, we can lend you between 5% and 25% of the property value or purchase price, whichever is lower. You become the owner of the home, but you share some of its value with HomeStart.

You can apply for this additional loan when you take out your home loan.

The Shared Equity Option can increase your options without adding to your monthly repayments. However, you can choose to make voluntary repayments of $10,000 or more at any time. This would reduce HomeStart’s share in the value of your property. To work out the new percentage, we’d need to arrange a property valuation.

You’ll repay this loan when you:

• sell your property, or
• refinance with another lender, or
• voluntarily pay out the Shared Equity Option.

Until then, you’ll continue making the repayments that we’ve set for your home loan.

We don’t charge interest on the shared equity part of your loan. Instead, when you sell your property, we'll share in any gain or loss in property value. 

For example, if we lend you 20% of the purchase price with this loan, our share in the value of your property will be 20%.