(Information current as of November 2025 — policy settings may change. Always confirm details with Kāinga Ora or your mortgage broker before applying.) Buying your first home is one of life’s biggest milestones — and it can feel both exciting and overwhelming. Between deposits, KiwiSaver rules, and constantly changing lending criteria, it’s easy to get lost in the process. At Best Mortgages, we help first-home buyers across Tauranga and the Bay of Plenty make sense of it all and move from confusion to confidence.

What Is a First Home Loan?

A First Home Loan is a government-backed initiative run through Kāinga Ora – Homes and Communities. It helps eligible New Zealanders get onto the property ladder with as little as a 5 percent deposit. The loan is issued by selected banks and other participating lenders but underwritten by Kāinga Ora, allowing those lenders to approve applications that might otherwise fall outside normal bank rules. The result is a more flexible pathway into your first home, often with competitive rates and standard loan terms.

Eligibility Criteria (as of November 2025)

• Be a New Zealand citizen, permanent resident, or resident-visa holder living in NZ.
• Be a first-home buyer or in a similar financial position to one.
• Have a before-tax income of up to $95 000 (single without dependants) or $150 000 (single with dependants or couple).
• Provide a minimum 5 percent deposit of the purchase price (from savings, KiwiSaver withdrawal, or gifts).
• Be buying a home < 1 hectare to live in as your primary residence.
• Pay a 1.2 percent Lenders Mortgage Insurance premium (up front or added to the loan).

Each participating lender will still run its own credit assessment, so working with an experienced broker helps smooth the process.

Why Use a Mortgage Broker

Banks vary widely in how they interpret Kāinga Ora’s rules. Some non-bank lenders also offer extra flexibility for buyers with limited deposits or short employment histories. As your local mortgage broker in Tauranga, I compare all lenders daily to find the best fit for your goals and budget. We’ll look at income, existing debts, and KiwiSaver balances to create a structure that keeps repayments comfortable and helps you build equity sooner.

Key Benefits of a First Home Loan

• Lower deposit barriers — buy with just 5 percent down.
• Competitive rates — similar to standard bank mortgages.
• Flexibility — multiple lenders to choose from.
• Local support — participating banks throughout Tauranga and the Bay of Plenty.

Real-World Example

A young couple from Papamoa came to us thinking they’d need another year to save a 20 percent deposit. They had steady jobs and a strong rental history but only 15 percent saved. We re-structured their application through a participating bank and secured approval within five days. They recently moved into their new home in Bethlehem — proof that strategy and good advice beat guesswork every time.

Preparing to Apply

1. Set your budget. Know what monthly repayment you can comfortably handle.
2. Check your credit record. Fix any issues early.
3. Collect documents. Payslips, bank statements, ID, and KiwiSaver summary.
4. Stay within price caps. Caps change by region — we’ll confirm the latest Tauranga figures for you.
5. Get pre-approval. It shows agents you’re serious and makes auctions less stressful.

KiwiSaver and Deposit Help (as of November 2025)

The First Home Grant has now ended, but you can still use your KiwiSaver first-home withdrawal to help fund your deposit (after at least three years of contributions). At least $1 000 must remain in your account. Family gifts are also allowed and count toward the 5 percent minimum deposit for a First Home Loan. (Policy details current as of November 2025 — check the official Kāinga Ora website for any updates before applying.)

What It Really Costs

Besides your deposit, budget for the usual extras — legal fees, valuation costs, and the 1.2 percent Lenders Mortgage Insurance fee charged on every First Home Loan. We’ll outline all costs up front so there are no surprises later.

Why Work with Best Mortgages

• Independent advice — we compare banks and non-banks objectively.
• Local expertise — we know Tauranga’s housing market and price caps inside out.
• Personal service — you’ll deal directly with an experienced broker from first chat to settlement.
• Long-term support — we review your loan regularly to keep it competitive.

Final Thoughts

The First Home Loan remains a powerful path for first-time buyers in 2025. Even without the old First Home Grant, many Kiwis — including buyers across Tauranga and the Bay of Plenty — are still purchasing with as little as 5 percent down. With clear guidance and a tailored plan, you can absolutely make it happen. If you’re thinking about buying your first home, talk to Best Mortgages today — we’ll walk you through the current criteria, handle the paperwork, and help you secure approval so you can focus on finding your new home.