First Home Buyers

Banks and lenders have very specific policies around lending to first home buyers and the pricing of their home loan products can vary substantially. To help secure the right home loan for your finance needs talk to a Loan Market mortgage broker today.

As a first home buyer, to find a good home loan you should investigate both your home loan options and government grants and entitlements you may be eligible for.

With interest rates falling and property becoming more affordable, first home buyers are in the best buying position they have ever been in.

First Home Buyer Assistance

KiwiSaver is a voluntary work-based savings scheme designed to utilise the existing PAYE (pay as you earn) tax system. KiwiSaver includes a first home deposit subsidy which, after three years of saving, provides a first home deposit subsidy of $1,000 per year, up to a maximum of $5,000.

Considerations for First Home Buyers

As a first home buyer, you will need to consider:

  • what assistance is available to you as a first home buyer
  • suitable home loans for first time home buyers
  • the size of your deposit and where you will source this from
  • the fees and charges associated with purchasing a property
  • undertaking thorough research on the property market
  • finding a good mortgage broker, accountant, financial planner and solicitor

More Information About Getting your First Home Loan

For more information on sourcing a deposit, first home , or to find the home loan that is in your best interest, simply fill in the form or call us at any time on 0508 722 205.

Find Out About Your Home Loan Options

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Home Loans for First Home Buyers

There are a number types of home loans particularly suited to or advertised as suitable for first home buyers, including loans which allow a part of full guarantee by a third party. These loans are not the only types available for first home buyers, you will also be able to choose from a range of standard residential home loans.

How much deposit do I need to purchase my first home?

Traditionally a 20% deposit was required in order to secure a home loan, leaving many first home buyers in today’s market under the impression they need to have saved a deposit before they can secure a home loan, but flexible bank lending policies mean there are now also a number of alternatives and supplements to having the cash in the bank already. Options for sourcing the deposit you need, include:

  • Traditional savings
  • Gifted money
  • Equity or guarantees from family members
  • Kiwisaver

Fees and charges for first home loans

There are a range of fees and charges relating to first home loans, including bank and lender charges, government and statutory charges and conveyancing fees. For a complete overview of fees and charges associated with your home loan, talk to your mortgage broker.

For more information on First Home Buyers

For more information on how to get into your first home, or the home loan that is in your best interest, talk to your local mortgage broker or call us at any time on 0508 722 205 (+64 9 526 0122).