Start your first home buying journey here
We know before setting out that this journey into home ownership can seem daunting. But that’s why we’re here, to walk with you each step of the way. Get ready because you’re going to love being on the property ladder.
Our process
Here is our process to first home mortgage success
An easy journey for first home buyers.
Pre-approved Mortgage
Gaining mortgage pre-approval serves two really important purposes:
- You get peace of mind, knowing that getting the house you want isn’t conditional on getting the loan.
- You know exactly what you can afford to spend on buying your first home.
Knowing these two points reduces stress, and that’s got to be a good thing.
Get access to a mortgage with a smaller deposit
Not all of the funders require a 20% deposit to help secure your mortgage. But because Vega Lend deals with 26 different lenders, not all are subject to the same rules placed on the major banks. Combine this with various government grants (below) and you’re well on your way to a healthy deposit anyway.
Access your KiwiSaver savings
If you’ve been contributing to KiwiSaver for more than 3 years, you could use a substantial sum of that money towards buying your first home. The $1,000 government kickstart contribution has to stay in the scheme. Talk to us about the details with this option.
Access a KiwiSaver HomeStart grant
On top of accessing your KiwiSaver funds, if you meet certain criteria you could access up to $20,000 worth of additional grants. There’s more to consider, and other options, but the key criteria include:
You’ve contributed the minimum amount of funds to KiwiSaver for a minimum of 3 years
You’re over 18 years of age
You’re building or buying your first home
Your pre-tax household income is under $80,000 for a single applicant and under $120,000 for 2 or more people
Your combined deposit, including the grant, equals at least 10% of the house’s purchase price
You need to live in the house for at least 6 months after the settlement date.
Access a Welcome Home Loan
Selected banks offer Welcome Home Loans which are underwritten by Housing New Zealand. This scheme lets the bank lend you funds against a lower deposit. Accessing this type of loan has plenty of restrictions which are explained on the Welcome Home Loans website here.
How we’re different
Qualified Mortgage Advice Experts
Our people are ex-senior bankers, highly networked, and commercially astute. They know the way the banks think. We are also registered as brokers and that means we have more training and experience than most.
We spend time to understand you
We make sure that we really understand where you are now, and your future goals, and then create a plan to get you there. We love helping our clients realize their dreams and goals.
Clients for life
People often buy multiple properties in their lifetime. We work hard to support you so that you will want to work with us again in future.
We write your application with experience
We know how all the lenders think, and what is an attractive application based on their needs. We’ll complete the paperwork together and tell you which lender is best for you.