First-Home Buyers
Your First Step Into Home Ownership
Buying your first home is exciting, but it can also feel overwhelming. We simplify the process and support you every step of the way. From building your deposit to signing the final paperwork, you’ll have clear guidance so you understand your options and feel confident in your decisions.
How We Help First-Home Buyers
- Saving for Your Deposit – We help you understand how to use your savings, KiwiSaver, and family support effectively, and how your deposit size can impact your loan options.
- First-Home Loan Options – We explain loan options available to first-home buyers, including solutions that may allow you to purchase with a lower deposit, depending on lender criteria.
- Loan Approval – We compare banks and lenders to find the best fit for your situation.
- Step-by-Step Guidance – Clear answers to all your questions, no jargon.
Example: With just a 5–10% deposit, you may still be eligible for lending through Kāinga Ora-First-home loan option. We’ll explain what this means and help you apply.
Pre-Approval Process
Getting pre-approved is the first step towards buying a home. It works much like a full loan application but without a property selected yet. A pre-approval gives you confidence in how much you can borrow and what type of homes fit your budget.
Collect Your Details
We’ll gather key information such as your income, expenses, savings, and any debts. This allows lenders to assess your eligibility.
Compare Lenders
Your adviser will review options across different banks and non-bank lenders to find the best fit for your situation.
Application Submission
Once your paperwork is ready, we submit your application to the chosen lender for assessment.
Pre-Approval Offer
If successful, the lender issues a pre-approval outlining how much you can borrow and under what conditions.
Validity Period
Most pre-approvals last around 60–90 days, giving you time to find the right property within your budget.
Note: Pre-approval is not a full guarantee of finance, but it provides a clear guide to your borrowing power and makes your home search more focused.
Build Your Deposit
The more you save for a deposit, the stronger your position when applying for a home loan. A larger deposit often means lower interest rates, fewer added costs, and more flexibility in the type of property you can purchase.
Saving a solid deposit also improves your loan-to-value ratio (LVR), which shows lenders you’re a lower-risk borrower. This can make it easier to get approval and better loan terms.
Tips for Growing Your Deposit
- Set a clear savings goal and track your progress.
- Cut back on non-essential spending.
- Use high-interest savings or investment accounts where appropriate.
- Consider KiwiSaver or other first-home buyer schemes for a boost.
Small, consistent savings habits now can make a big difference when it’s time to buy your home.
Using KiwiSaver for Your First Home
KiwiSaver can be a valuable tool for first-home buyers. If you’ve been a KiwiSaver member for at least three years, you may be eligible to withdraw most of your KiwiSaver savings to help fund your first-home deposit, excluding the required $1,000 balance that must remain in your account.
To make a withdrawal, you’ll need supporting documents such as a signed sale and purchase agreement, and eligibility requirements may apply, including limits on property value and ownership history. Conditions can vary between providers.
Always check with your KiwiSaver provider and seek appropriate financial advice to confirm your eligibility before relying on a KiwiSaver withdrawal as part of your deposit.
KiwiSaver isn’t just for retirement—it can be a powerful tool to help you buy your first home.
CONTACT
Protect yourself
and your family’s future
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