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: Should we be giving the green light to new mining projects? 💰🌲
The Environmental Protection Authority announced this week that a proposed mine in Central Otago (near Cromwell) is about to enter its fast-track assessment process. A final decision could come within six months, and if it’s approved, construction might start as early as mid-2026.
We want to know: Should mining projects like this move ahead?
Keen to dig deeper? Mike White has the scoop.
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53.2% Yes
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46.8% No
Aucklanders, we want to know: How are you feeling about the current property market?
New Zealand homeowners are now more likely to sell at a loss than at any time since 2013, and if you’re in Auckland or Wellington, the odds are even higher.
But there is a silver lining: buyers are still in a strong position when it comes to negotiating prices.
So we’re curious…
How are you feeling about the current property market?
If you’re keen to dive into the details, Deborah Morris breaks down all the latest insights.
‘Tis the season to not get scammed ...
As Christmas gift shopping moves increasingly online, scammers are ramping up their activity across the country.
Dunedin’s Investigation Support Unit is seeing more and more people fall victim to scams and other fraudulent activity, particularly on Facebook Marketplace.
There are a few ways to avoid the scams and keep yourself safe doing online trades this holiday season, says Southern District Service Delivery Manager Senior Sergeant Dalton.
🔒 “A good first step when looking to purchase something on Marketplace is to check when the seller’s Facebook profile was created. If it’s very recent, there is a higher risk that they have just created this account for a one-off fake item.”
🔒 Another important step is to make sure the seller’s profile name and bank account name match up. “We’re seeing a lot of scammers claiming their bank account name is different because it belongs to their partner or family member - that’s a huge red flag."
🔒 “When you’re selling, never trust a screenshot anyone sends you showing that payment has been made. Check your own bank account to make sure a payment has gone through."
🔒 “Quite frankly, it’s best for all parties to agree to pay, or be paid, for items in cash and in-person. Ideally in a public place with CCTV coverage."
🔒 "If you’re buying a car, check Carjam.co.nz to see if it’s stolen or if there’s money owed on it.”
A reminder: Suspicious activity can be reported on 105
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