First Home Loans explained

Published on 1 February 2023 at 12:21

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.

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