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First Home Buyers

Some essential facts for buying your first home

Before you buy your first home, here are some essential facts you need to know.

 
1. Homestart Grant - are you eligible?
If you are buying an existing or older property valued up to $500,000 or a brand new home valued up to $550,000, you may be eligible for the Homestart Grant.  Your income threshold must be $85,000 for a single buyer or $130,000 for 2 or more buyers.  You must also have been in Kiwisaver for a minimum of 3 years.
 
2. Kiwisaver - can you withdraw some funds to assist you with your deposit or mortgage?
To be eligible to withdraw some of your Kiwisaver, you must have been in Kiwisaver for a minimum of 3 years.  You must be a first home buyer - i.e. have not owned land or property before.
 
3. Welcome Home Loans - what is this?
This is a product available through Mortgage Express.  You may be eligible to apply for this Welcome Home Loan if your income threshold is $85,000 for a single buyer or $130,000 for 2 or more buyers.  You must be a first home buyer (i.e. have not owned land or property before), and you have a deposit of 10% or more of the purchase price (which can include the Homestart Grant and Kiwisaver combined)
 
If you would like to more, please get in touch and I can refer you to our Broker at Mortgage Express.  Please note there is no fee for a Broker's service and they are there to assist you whether it is with other banks or your existing bank.  Their longstanding relationships allow them to negotiate fantastic deals on your behalf.

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