First Home Loan


A First Home Loan is a helping hand for first home buyers who don’t have a 20% deposit.  They are offered by specific lenders and require certain criteria - mainly household income caps.

First Home Loan Criteria

  • You must live in the home you are buying. A First Home Loan cannot be used to buy an investment or rental property.

  • You cannot own any other property.

  • You will need to pay a Lender’s Mortgage Insurance (LMI) premium of 0.5% of the loan account.

  • You are a New Zealand citizen or permanent New Zealand resident or a resident visa holder who is ordinarily resident in New Zealand.

  • While an age restriction is not part of the standard eligibility criteria for a First Home Loan, in general participating lenders will require applicants to be a minimum of 18 years of age. 

Income Caps

The income caps to be eligible are:

Single Borrower: $95,000 combined household income in the last 12 months.

Two Or More Borrowers: $150,000 combined household income in the last 12 months.

Get some help  with your First Home Loan

Our advisors can help you prepare and submit your First Home Loan.  For help, please complete the below form.