First Home Loan

With a First home loan, you only need a 5% deposit, which makes getting into your first home just that little bit easier. First home loans are issued by selected banks and other lenders and are backed up by Housing New Zealand.

To be eligible:

 

  • You can have a maximum yearly income of up to $85,000 (before tax) for 1 person, or a combined maximum yearly income of up to $130,000 (before tax) for 2 people.
  • You need a minimum deposit of 5%
  • The price of the house you are buying must be less than the regional house price cap.
  • You must be an NZ citizen.