Build a realistic budget.
Think about repayments alongside rates, insurance, maintenance, rates, transport, and other regular commitments. Consider how the picture could change if interest rates or income change.
Understand the deposit.
Deposit expectations can differ by lender and property. A higher loan-to-value ratio may affect fees, pricing, and the information a lender asks for.
Ask for the next requirement.
Pre-approval, conditional offers, and final lending decisions can each have conditions. Ask the lender or adviser what information is needed at each stage.
FIRST-HOME LOAN
Check public programmes carefully.
Kāinga Ora says a First Home Loan may allow eligible buyers to apply with a 5% deposit through participating lenders. Eligibility, property-price limits, income limits, lender criteria, and availability apply, so it is important to confirm the current rules directly with a participating lender or Kāinga Ora.
KiwiSaver and other assistance can also have specific requirements and timing. Independent information is useful alongside a conversation about your own budget and lending eligibility.
Independent starting points
Sorted explains that lending assessments can consider affordability, expenses, existing debts, deposit, and property factors. Kāinga Ora maintains the current First Home Loan information.
START WITH THE BASICS
Begin a first-home enquiry.
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