5% DEPOSIT - FIRST HOME LOAN
The First Home Loan, supported by Kāinga Ora, is designed to help eligible first-home buyers enter the property market sooner.
What is the First Home Loan?
Typically, banks require a 20% deposit, making homeownership challenging for many first-home buyers. The First Home Loan removes this barrier by allowing approved applicants to secure a mortgage with only a 5% deposit. These loans are available through selected banks and lenders, with Kāinga Ora underwriting them to reduce the lender’s risk.
If saving even a 5% deposit is difficult, you may be able to use your KiwiSaver first-home withdrawal or receive a gifted deposit from family to help meet the requirement.
Who Can Apply?
To be eligible for a First Home Loan, you must:
✅ Be a New Zealand citizen, permanent resident, or resident visa holder living in New Zealand.
✅ Applicants must be currently employed in New Zealand and have been with their current employer for at least 12 months.
If employed for less than 12 months, applicants must provide evidence of stable employment in the same occupation or industry over the past two years.
✅ Be a first-home buyer or in a similar financial position to one.
✅ Have an annual income of:
$95,000 or less (for individuals with no dependents).
$150,000 or less (combined, for couples or individuals with dependents).
✅ Have a minimum 5% deposit, which can come from savings, KiwiSaver, or a family gift.
✅ Be purchasing a property to live in, not as an investment.
Give me a call via 022 398 5140 for further discussion.
Poll: Is it ok to regift something that you have been given?
🎁 Holiday Gift Chat!
Do you ever regift?
What’s your take on asking for a receipt if a gift doesn’t fit?
-
79.1% Yes! It's better to regift what I don't need
-
20.9% No. It's the thought and effort that matters
Exclusive Christmas Sleep Deals - Up to 65% OFF Beds!
Hi neighbours,
This coming Christmas, why not treat yourself to better sleep? For one day only, we’re offering an extra 5% OFF on top of our already reduced Boxing Day Bed Sale prices!
With up to 65% OFF on selected beds and FREE delivery, there’s never been a better time to upgrade your sleep. But hurry, these deals are moving fast, and once stock is gone, it’s gone!
If you’d like to see what’s available:
Find your nearest Beds4U store: beds4u.co.nz/store-locator
Browse all Boxing Day deals: beds4u.co.nz/boxing-day
Don’t miss out, give yourself the gift of quality sleep this Christmas!
Scam Alert: Fake information regarding December Bonuses from MSD
The Ministry of Social Development is reporting that fake information is circulating about new ‘December bonuses’ or ‘benefit increases’
If you get suspicious communication, please contact Netsafe.
Loading…
