We’ll be your guide
Doing anything for the first time can be daunting, let alone buying your first home! Fortunately, we’ve helped many people buy their first home and know exactly what is required to smooth out the process. Let us be your guide, we’ll make sure you’re on the front foot to achieve goals.
Raising a deposit
The deposit required to get mortgage lending can come from a multitude of sources. Some of the likely sources include, cash savings, Kiwisaver first home withdrawal, First Home Grant, gifts, deed of debts, equity in another property, guarantors and in some cases another loan! There are strict criteria when using some of these deposit sources so speak to a mortgage adviser if you want to know more about your specific situation.
Low deposit – no problem
Most banks prefer a 20% deposit, but many will also consider just 10%. It’s important to approach them in the right way because they only have a limited pool of funds allocated for low deposit lending. There is also the First Home Loan scheme that can help you secure bank lending. This scheme can help you when you have just 5% deposit. And to top that off there is also the First Home Grant available to those who are eligible. Click here to get more details or contact us and we’ll help you work out if you are eligible.
Get Pre-approved
Getting pre-approved means that a bank approves an amount of lending for you based on your financial situation and the type of property you want to buy. There are some misconceptions about what a pre-approval is so it’s very important to have an expert by your side to explain the conditions that must be met.
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