Helping first home buyers in NZ secure low deposit home loans

New to the mortgage market? Don’t worry, we’re not! Total Mortgages will guide you through all the different options, including how to secure low deposit home loans using genuine and non genuine savings, Kiwisaver, the housing New Zealand Subsidy, and or using Guarantors.

Whether you are based in Auckland, the Waikato or further afield in NZ, Total Mortgages can help. Contact us today to find out how much you can borrow. Our service is free to use – get started today.

Three tips to help you qualify for your first home mortgage

  1. Raise a healthy deposit – There are many ways to pull together the 20% deposit required by most banks and institutions. You can save over time, sell your car or other high value assets, draw on your Kiwisaver or ask your parents to act as a Guarantor.
  2. Clear unwanted debt – Debts such as car loans or personal loans reduce your equity position and can negatively impact your loan outcome. Aim to reduce or rid them altogether so that your savings outweigh your debt.
  3. Keep your accounts in check – Your home loan won’t be 100% approved until the bank has seen up-to-date bank statements. So, prove to the bank that you are good with money, credit and debt by maintaining your direct credits or paying off pre-arranged overdrafts each month.

If in doubt, seek professional advice from a mortgage broker

Total Mortgages can help you work out how much money you can borrow and assist you with the next steps in getting your finance ready. You can also use our handy online calculator to work out your weekly repayments.

Talk to our professional mortgage broker before you embark on the first home buyer journey. Our service is free, easy to use and available throughout NZ. Simply book a mortgage broker appointment online or contact us for an appointment.