How it works
First Home Loan is an initiative supported by Kāinga Ora - Homes and Communities, designed to help first time buyers onto the property ladder.
It could work for you if you could afford mortgage repayments, but haven't got enough for a deposit.
To be eligible, you must plan to live in the house you buy - the loan can’t be used to buy a rental or investment property.
There are income limits in place to be eligible for a First Home Loan. You can apply if your annual household income is less than $85,000 before tax year (if you’re the sole borrower) or less than a combined $130,000 before tax if you’re buying a house with other people.
You can use money you’ve been gifted by a relative and you may also be able to use your KiwiSaver to put funds towards the purchase.
What can you buy?
There are house price caps in place, depending on where you live and whether you’re buying an existing property or building a new home.