JUST 5% GENUINE DEPOSIT ****lending criteria applies****


Finding the deposit for your first home can be a struggle, with most lenders currently requiring a minimum 20% deposit. But with a First Home Mortgage Broker Auckland, you only need a 5% deposit which means getting into your first home is that much easier.


First Home Loans are issued by selected banks and other lenders, and underwritten by Housing New Zealand. This allows the lender to provide loans that would otherwise sit outside their lending standards.

Maximum income

To be eligible for a First Home Loan your household income for the last 12 months must have been $95,000 or less (before tax) if you are the sole borrower. If you are teaming up with one or more borrowers to buy a house, then you can have a combined household income up to $150,000 (before tax) in the last 12 months.

Other criteria

You must live in the home you are buying. A Welcome Home Loan cannot be used to buy an investment or rental property.

You cannot own any other property. You will need to pay a Lender’s Mortgage Insurance (LMI) premium of 1% of the loan account. The lender may also apply a loan application fee. In most cases these fees can be built into the home loan. Talk to your participating lender to see what applies.
You are a New Zealand citizen or permanent New Zealand resident (holding a ‘Permanent Resident Visa’).

What about if I want to build a house?

Some participating lenders allow you to build a new house with a First Home Loan. Please ask your preferred lender if they do and what their criteria is.
Maximum amount you can borrow
The maximum amount you can borrow with a First Home Loan depends on the region you are buying in. Each region has a house price cap. The maximum loan for that region is the house price cap less your 5% deposit.


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