Buying your first home can feel complicated, especially when you're trying to work out how much you can borrow, how much deposit you need and which mortgage is right for you.
As a Christchurch mortgage broker specialising in first home buyers, I can help you understand your options and guide you through the process from your first conversation through to getting the keys to your new home.
How much deposit do you need?
You may not need a 20% deposit to buy your first home. Depending on your circumstances, you may be able to buy with a 5% or 10% deposit.
Your KiwiSaver savings may be available to help fund your deposit, and eligible buyers may also be able to apply for a First Home Loan underwritten by Kāinga Ora.
The important thing is understanding what you may qualify for before you start seriously looking at properties.
Here’s how you can get started
Check with your KiwiSaver provider to find out how much you may be able to withdraw for your first home.
Talk to me about using your KiwiSaver towards your deposit.
Find out whether you may qualify for a First Home Loan.
Work out how much you may be able to borrow.
Get your mortgage pre-approval before you start seriously looking for your new home.
Need a hand? I’ll explain your options, work through your numbers and help with your application. My mortgage advice and service are provided at no cost to you.
Could your family help you buy your first home?
If your deposit is holding you back, it may be worth having a conversation with your family. There may be more options available than you realise.
Family members may be able to:
Provide a gifted deposit
Help with your deposit through other financial support
Provide a guarantee, where appropriate
Every situation is different, and there are specific bank requirements around gifted deposits and guarantees. I can explain what may be possible and help you understand your options before you make any decisions.
Get your first home mortgage sorted
Buying your first home is a big step, but you don't have to work it all out yourself.
I’ll help you understand how much you may be able to borrow, explain your mortgage options and deal with the bank on your behalf.
Ready to see what you could borrow?
Talk to Martin About Your First Home Today
First home buyer mortgage FAQs
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You may not need a 20% deposit to buy your first home. Depending on your circumstances and the lending criteria of the bank, you may be able to buy with a 5% or 10% deposit. Your KiwiSaver savings may also be available to help towards your deposit.Description text goes here
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Potentially. Some first-home buyers may qualify for lending with a 5% deposit, including through the First Home Loan scheme underwritten by Kāinga Ora. Whether you qualify will depend on your income, deposit, debts, expenses and the lender's criteria.
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Yes, if you meet the eligibility requirements, you may be able to withdraw some or all of your eligible KiwiSaver savings to put towards your first home. Your KiwiSaver provider can confirm how much you may be able to withdraw.
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A First Home Loan is designed to help eligible first-home buyers purchase a home with a lower deposit than is normally required. The scheme is underwritten by Kāinga Ora, with lending provided by participating banks and lenders. Eligibility criteria apply.
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The amount you may be able to borrow depends on several factors, including your income, deposit, existing debts, living expenses and the lender's lending criteria. I can work through your numbers with you and give you a clearer idea of what may be achievable before you start looking at properties.
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Yes, getting mortgage pre-approval can give you a much clearer idea of your budget before you start house hunting. It can also give you confidence when making an offer, although pre-approval is subject to the lender's final approval of the property and other conditions.
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Potentially. Parents or other family members may be able to help through a gifted deposit or, in some circumstances, a guarantee. Banks have specific requirements around these arrangements, so it's important to understand how they could affect your mortgage application.
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You don't have to use a mortgage broker, but having an experienced mortgage adviser can make the process easier. I can help you understand your borrowing options, compare suitable lenders and manage your application with the bank on your behalf.
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There is no fee for my mortgage advice or service. Mortgage Group is generally paid a commission by the lender when your loan settles, so you pay nothing for my mortgage service.
There are no hidden fees or charges from Mortgage Group for arranging your mortgage.
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The easiest way is to talk to me about your situation before you start looking seriously at properties. We can discuss your deposit, income, KiwiSaver and existing debts and work out what your next step should be.