1st Home Loans

.. are designed to help you get into that first home and on the property ladder.
1st Home Loans

Depending on your situation, a 1st Home Loan could allow you to get into your first home with as little as 10% deposit ( Most lenders currently require a minimum 20 % deposit)

Options and Eligibility are:

  • you are buying your first home
  • you only have a 10% deposit (can use combined deposit ie; Kiwi Saver, Housing NZ Subsidy and cash savings / or family gift)
  • you'll live in the home you are buying (ie; is not for rental / investment properties)
  • you are a permanent New Zealand resident or New Zealand citizen
  • you have an 'acceptable credit history'

  • Income Caps
    your annual household income before tax is below $95,000 (gross income ) for one borrower, or is below $150,000 for two or more borrowers ( These caps are based on income earned in the previous 12 month period before tax)

    NOTE: You can pool together with other buyers - but the maximum income cap of $150,000 remains the same

    Regional Pricing Caps or 2nd chance home buyers'... open links below

back to New to Property

Portable Document Format (PDF)Eligibility First Home Grant (89kb)
Portable Document Format (PDF)Regional Pricing Caps (207kb)

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