Buying Your First Home Doesn’t Have to Be Stressful
Buying your first home is one of life’s biggest milestones — and yes, it can feel overwhelming. But with the right mortgage advisor by your side, it doesn’t have to be.
We’re here to guide you through the entire process, answer your questions, and take the stress off your shoulders.
Common Questions First-Time Buyers Ask:
- Do I have enough deposit?
- Which bank or lender will give me the best deal?
- How much can I borrow?
- Can I use my KiwiSaver?
- How do I even start the process?
- Will someone walk me through the steps?
What You Need to Know Before Buying Your First Home
1. Deposit Requirements
Most banks now require at least a 20% deposit. For example, a $1M home means a $200,000 deposit, and the bank lends $800,000 — subject to lending criteria.
2. Debt-to-Income Ratio (DTI)
Banks won’t lend more than 6x your total household income. For example, if your income is $120,000, you might get a loan up to $720,000.
3. Low Equity Margin or Fees
With less than 20% deposit, banks charge either:
- Higher interest rate (margin)
- One-time fee based on loan amount
4. Registered Valuation
Banks may require a valuation via Valocity or CoreLogic. It usually costs $900+ and must match or exceed the purchase price. If not, more deposit may be needed.
5. Building Inspection
Strongly recommended to check for structural issues, moisture problems, or meth contamination. Required for plaster homes (1990–2005).
6. LIM Report
A Land Information Memorandum (LIM) reveals council data about the property. Most buyers make LIM a condition in their agreement. Delivered within 10 working days.
7. Using KiwiSaver as Deposit
You can withdraw all but $1,000 from your KiwiSaver. Apply via your provider, then submit the approval letter to your bank and solicitor. The solicitor handles settlement funds.
8. Insurance
Home insurance is mandatory. You must provide the insurance certificate to your solicitor before settlement day. Talk to an advisor if the property is hard to insure.
9. Settlement Process
Once your home loan is approved unconditionally and you sign the Sale & Purchase agreement, your solicitor finalizes the legal work.
We’ll guide you with:
- Loan structure & interest rates
- Documentation & KiwiSaver coordination
- Settlement-day fund transfers
Ready to Take the First Step?
We’re experienced, knowledgeable, and committed to making this journey easy for you. You’re not just buying a house — you’re investing in peace of mind.
Let’s make your first home a reality.
