5% DOWN 100% HOME.
The first home loan enables you to purchase your first home with 5% deposit, with Kainga Ora guaranteeing the balance, up to 20%. Getting you into your first home sooner.
MAIN CRITERIA
In the last 12 months , youhave earned $95k as anindividual or $150kcombined or individual with dependents.
Lenders mortgage insurance fee of0.5% of the loan value. This can beadded to the loan.
Be an ordinarily resident inNZ: Hold current NZresidency, have lived herefor 12 months.
FEES, INTEREST RATES AND CASH BACK
Under the First Home Loan,you have access to thebanks current special rates,the same as someone with20% deposit
Be a first home buyer or bein a similar financial positionto a first home buyer
Banks offer a small cashcontribution for FirstHome Loans to help paysome of the legal costsassociated with buying ahome
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In the last 12 months , you have earned $95k as an individual or $150k combined or individual with dependents
Be an ordinarily resident in NZ: Hold current NZ residency have lived here for 12 months.
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Be a first home buyer or be in a similar financial position to a first home buyer
fees, intrest rates and cash back
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Lenders mortgage insurance fee of 0.5% of the loan value. This can be added to the loan.
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Under the First Home Loan, you have access to the banks current special rates, the same as someone with 20% deposit
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Banks offer a small cash contribution for First Home Loans to help pay some of the legal costs associated with buying a home
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FIRST HOME GRANT
In addition to the Frist HomeLoan if you have beencontributing to Kiwisaver for atleast 3 years, you may be eligiblefor the First Home Grant whichcould add up to $5k for anexisting home or $10k for a newhome to your deposit. Twopeople can combine their granttoo.
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OUR PROCESS
The process of applying for the First Home loan starts with a chat with one of the Simpler team. We then ask you to complete an online application. From there we assess what you're eligible for and how much you are able to borrow to purchase a home.
Our service is free so book a time to chat with us and see how close you are!
