First Home Loans
Owning your own home just got a lot easier with a First Home Loan.
With a First Home Loan you only need a 5% deposit which makes getting into your first home that much easier.
A First Home Loan offers:
- 5% deposit for home loans up to $500,000 (or $550,000 for a new property) in Hamilton or Tauranga city.
- 5% deposit for home loans up to $400,000 (or $500,000 for a new property) for the rest of Waikato and Bay of Plenty.
- The option of two or more borrowers living together, jointly borrowing to purchase a home.
You may be eligible for a First Home Loan if:
- You will be living in the home you purchase
- You have a maximum household income of $85,000 per annum before tax (1 borrower)
- You can have a maximum of household income of $130,000 per annum before tax (2 or more borrowers)
- You are a first home buyer
Applying for a First Home Loan is similar to applying for one of our home loans. For more information about our First Home Loans visit our frequently asked questions, give us a call or visit Kāinga Ora's website.
First Home Loan FAQ
- What is a First Home Loan?
- Am I eligible for a First Home Loan?
- Do I have to be living in the home I want to buy?
- What is the Lender’s Mortgage Insurance?
- How do I apply?
- What information will I need to provide?
- How much will my repayments be?
- Do I also have to pay an application fee?
- What about insurance?
- Do I need a lawyer?
- Can I get pre-approval?
- What is the interest rate?