• Holly Rogers

10% Deposit for First Home Buyers Is this right for you?

If you have or are working towards having a 10% home loan deposit then the Welcome Home Loan Scheme may be right for you!

We work with lenders who participate in the Welcome Home Loan scheme to help you purchase your first home. As well as finding you the most suitable home loan for your circumstances, we can also help you with your loan application process.

If you are considering applying or are ready to purchase your first home, check out the Housing NZ site or go to the Housing NZ links to find the eligibility criteria Welcome Home Loan and how much you can borrow.

Key Points:

  • Cannot be used for investment or rental purpose

  • You must not own any other property

  • You may need to pay fees such as application fee and Lenders Mortgage Insurance

There are two income caps that apply for a Welcome Home Loan.

  • For one borrower you must have earned no more than $85,000.00 (before tax) in the last 12 months.

  • If you are borrowing with one or more other people you must have a combined household income of $130,000 or less (before tax) in the last 12 months.

Check out the maximum Purchase Price in your Region


$600,000 - $650,000

Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Tasman District, Nelson City, Waimakariri District, Christchurch City, Selwyn District, Queenstown Lakes District.

$500,000 - $550,000

Rest of New Zealand.

$400,000. - $450,000

Are you eligible for a Welcome Home Loan?


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