The New Zealand First Home Loan scheme is a government program that helps people buy their first house.
To be eligible for the program, you must:
- Be a citizen or permanent resident of New Zealand
- Have a deposit of at least 5% of the house's price and the government will guarantee the remaining amount
- Buy a house in New Zealand that you will live in as your main home
- Not own any other property in New Zealand or other countries
- Not have received any other government help to buy a house before
- Meet certain income limits based on the location and number of people in your household
- Have a good credit history
- Be over 18 years old
It's important to note that these rules may change, so it's best to check with the government's official website for the most up-to-date information.
It's also important to work with a mortgage broker from the start to make sure you get off on the right track. Reach out to Nigel MortgageMe Hawke's Bay here or below for expert mortgage advice.