"The First Home Loan is offered by banks, underwritten by Kāinga Ora – Homes and Communities, and, designed for first home buyers who can afford to make regular repayments on a home loan, but have trouble saving for a large deposit."

Loan limits - NONE!

The maximum amount you can borrow with a First Home Loan no longer depends on the region you are buying in. The maximum loan will now be limited by your deposit Or more likely borrowing power

Income limits & Other T's & C's

To be eligible for a First Home Loan You can borrow up to 95% of property value – that means a deposit of only 5%. To be eligible you must have maximum total income of:

• $95,000 for individuals without dependents,
• $150,000 for individuals with dependents (from 1 June 2022), or
• $150,000 for joint borrowers (two or more).
• This type of loan is for owner occupied homes only.
• This needs to be the only property you own.
• This type of loan does not offer a revolving credit facility, overdraft or interest only options.
• 1% FHL Premium Fee Applies.
• $250 Application Fee Applies.
• House price caps no longer apply to First Home Loans from 1 June 2022.

Deposit / Genuine Savings

There is help available if you are having trouble saving your deposit. Unlike a regular loan your deposit does not have to be genuine savings! Your deposit can be gifted by a relative. You can team up with other borrowers to put together your deposit and purchase a home. You can also use two features offered by KiwiSaver – the KiwiSaver HomeStart grant and KiwiSaver first-home withdrawal.

Can you still help outside of the First Home Loan criteria?

Yes. We have helped hundreds of families who didn't qualify with other bank products.