5% DEPOSIT - FIRST HOME LOAN
The First Home Loan, supported by Kāinga Ora, is designed to help eligible first-home buyers enter the property market sooner.
What is the First Home Loan?
Typically, banks require a 20% deposit, making homeownership challenging for many first-home buyers. The First Home Loan removes this barrier by allowing approved applicants to secure a mortgage with only a 5% deposit. These loans are available through selected banks and lenders, with Kāinga Ora underwriting them to reduce the lender’s risk.
If saving even a 5% deposit is difficult, you may be able to use your KiwiSaver first-home withdrawal or receive a gifted deposit from family to help meet the requirement.
Who Can Apply?
To be eligible for a First Home Loan, you must:
✅ Be a New Zealand citizen, permanent resident, or resident visa holder living in New Zealand.
✅ Applicants must be currently employed in New Zealand and have been with their current employer for at least 12 months.
If employed for less than 12 months, applicants must provide evidence of stable employment in the same occupation or industry over the past two years.
✅ Be a first-home buyer or in a similar financial position to one.
✅ Have an annual income of:
$95,000 or less (for individuals with no dependents).
$150,000 or less (combined, for couples or individuals with dependents).
✅ Have a minimum 5% deposit, which can come from savings, KiwiSaver, or a family gift.
✅ Be purchasing a property to live in, not as an investment.
Give me a call via 022 398 5140 for further discussion.
Poll: 🗑️ Would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?
Aucklanders, our weekly rubbish collections are staying after councillors voted to scrap a proposed trial of fortnightly pick-ups.
We want to hear from you: would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?
Keen for the details? Read up about the scrapped collection trial here.
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83.7% Same!
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16.3% Would have liked to try something different
Neighbourhood Challenge: Who Can Crack This One? ⛓️💥❔
What has a head but no brain?
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
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Some Choice News!
Many New Zealand gardens aren’t seeing as many monarch butterflies fluttering around their swan plants and flower beds these days — the hungry Asian paper wasp has been taking its toll.
Thanks to people like Alan Baldick, who’s made it his mission to protect the monarch, his neighbours still get to enjoy these beautiful butterflies in their own backyards.
Thinking about planting something to invite more butterflies, bees, and birds into your garden?
Thanks for your mahi, Alan! We hope this brings a smile!
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