FIRST HOME BUYERS

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FIRST HOME LOAN EXPERTS

Well, you might be able to turn that dream into a reality. You may be eligible to access one or all of three government homeownership products designed to help people on low or fixed incomes into their own homes.
There are three channels where you can combine and you may be able to get a larger deposit to step into your own home.

The three channels are:
– First Home Grant
– KiwiSaver first-home withdrawal
– Welcome Home Loan.
If you have previously owned a home, but no longer do so, you also may be eligible for the grant, first-home withdrawal and a First Home Loan. See the details below.

FIRST HOME LOAN GRANT

In order to be eligible to apply for the FIRST Home Grant you need to be a rugular contribting member with Kiwi Saver for atleast three years. First Home Grant can also differ with the type of house you are buing, from $1000 – $2000 per year of the contribution to Kiwi Saver Scheme.

For an existing or an older home:

  • $3000 = 3 years of contribution (minimum requirement)
  • $4000 = 4 years of contribution
  • $5000 = 5 years of contribution (Max one contributor can get)

For a New Build home, a property bought off the plans or land to build a new home on, the First Home Grant is $2,000 for each year of contribution to the scheme:

  • $6000 = 3 years of contribution (minimum requirement)
  • $8000 = 4 years of contribution
  • $10000 = 5 years of contribution (Max one contributor can get)

If two or more borrowers who have both been contributing to KiwiSaver for five years can combine their Welcome Grant towards buying a newly built home, they could be eligible for grants
totalling $20,000.

HOUSE PRICE CAP FOR FIRST HOME BUYERS

The First Home Loan Applicant have to reside in the property for at least six months. Every region has a separate price cap for Welcome Home Loan. Which means you can not buy the house which is over the house price caps.

The house price caps are:

  • $650,000: Auckland, Queenstown Lakes District
  • $550,000:Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Nelson City, Tasman District, Waimakariri District, Christchurch City, Selwyn District
  • $500,000: Rest of New Zealand

Key Reasons To Choose Life Secure

Save time: Calling up every bank to discuss rates and options can be daunting. Let us do the work for you!

Lessen the stress: We know all the right questions to ask, so you don’t need to worry about its technicalities and between the lines complexities

Expert knowledge and experience: By our experience, we know what the banks want and know how to present your case in the most favourable way.

Network Access: We associate with most major banks and even some who you may not have considered talking to.

Help to repay your loan faster: We help you structure your loan in the most efficient way aiming to pay it off at the earliest.

Unbiased opinions: We will review all available packages and find the deal that is the best fit for your circumstances.

The bank may not tell you everything, so we are here to fill in those gaps!

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