Young couple receiving keys to their first home in New Zealand

Purchasing your first home is an exciting milestone, but navigating the complexities of home loans can be daunting. At Best Mortgages, we specialize in helping first home buyers like you understand and secure the best financing options available. Based in Tauranga, we proudly serve clients nationwide, ensuring you receive expert guidance no matter where you are in New Zealand.

What is a First Home Loan?

A First Home Loan is a government-backed initiative designed to help first-time homebuyers get into the property market. It’s aimed at making home ownership more accessible by reducing the amount of deposit required and providing more favorable loan terms. These loans are typically provided through select lenders who partner with Kāinga Ora – Homes and Communities.

Key Features of a First Home Loan

  • Lower Deposit Requirement: One of the most significant advantages of a First Home Loan is the reduced deposit requirement. While traditional loans may require a deposit of 20%, you can secure a First Home Loan with as little as a 5% deposit.
  • Income Cap: To be eligible for a First Home Loan, your income must not exceed a certain threshold. As of now, the cap is $95,000 per year for one borrower or $150,000 per year for two or more borrowers.
  • House Price Cap: The value of the property you wish to purchase must fall within the set regional house price caps. These caps vary across different regions in New Zealand to reflect local property market conditions.

Eligibility Criteria

To qualify for a First Home Loan, you must meet specific criteria:

  • Be a First-Time Buyer: You should not have owned property before.
  • Meet the Income Cap: Your annual income should be within the limits set by Kāinga Ora.
  • Provide a Minimum Deposit: You need to have at least a 5% deposit of the property’s purchase price.
  • Good Credit History: Lenders will assess your creditworthiness to ensure you can meet the loan repayments.

Best Ways to Use a First Home Loan

  • Plan Your Budget: Before applying, assess your financial situation thoroughly. Ensure you can afford the repayments by considering your current income and expenses.
  • Research Properties: Look for properties within the price caps in your desired area. Seek professional advice to find homes that meet your criteria.
  • Seek Professional Advice: Consult with a mortgage broker to understand your options better. At Best Mortgages, we provide personalized advice to help you navigate the loan application process smoothly. Contact us today at 021 449 177 or visit our contact page.
  • Prepare Necessary Documents: Gather all required documents, including proof of income, identification, and a detailed budget. This preparation will streamline your application process.

Why Choose Best Mortgages?

At Best Mortgages, we are committed to making your home buying journey as seamless as possible. Our experienced team provides:

  • Tailored Advice: We understand that every buyer’s situation is unique. Our brokers offer customized advice to fit your specific needs.
  • Nationwide Service: Although based in Tauranga, we assist clients across New Zealand, ensuring you receive top-notch service regardless of your location.
  • Comprehensive Support: From initial consultation to finalizing your loan, we support you every step of the way.

For more detailed information on the First Home Loan and other financing options, visit our First Home Loan page. Ready to take the next step? Call us at 021 449 177 or fill out our online application form.

Embark on your homeownership journey with confidence. Best Mortgages is here to help you secure your dream home with ease and expertise.


Securing a First Home Loan in New Zealand can significantly ease the path to owning your first home. By understanding the requirements and working with an experienced mortgage broker, you can navigate the process successfully. At Best Mortgages, we are dedicated to helping you achieve your homeownership dreams with the best possible financing solutions.

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