When you are first home buyers, it's important to get the right mortgage
The decision to buy a first home is exciting but can be a little overwhelming. Where do you start? While visiting open homes seems an obvious place to begin and is often the fun part, sorting the financial side can be more difficult. Generally most first home buyers need a mortgage, and the amount a bank or financial institution will lend you depends on a wide range of factors, not just what your income is.
Premium Finance will take the stress out of the process by offering expert mortgage advice and support. We have access to all the mortgage lenders and once we have a thorough understanding of your requirements and circumstances, we can do the work to find the right home loan for you. If you need pre-approval, we can work through this process too.
Thinking about using your Kiwisaver?
First home buyers who have been paying into Kiwisaver for over three years may be able to access some of this money to help buy a house. You can access yours and your employer contributions and any investment returns, but you can't withdraw the $1000 initial government contribution. Accessing Kiwisaver funds can increase the size of your deposit significantly which will assist in potentially being able to have more to spend on a home.
Premium Finance can assist with how to go about accessing your Kiwisaver funds.
Are you eligible for a First Home Grant?
A First Home Grant of up to $10,000 is potentially available to assist with your first home purchase. You need to have been contributing the minimum amount to Kiwisaver for over three years, and have saved a percentage of the house price as a deposit without the inclusion of the First Home Grant, plus there are other elibility requirements we can talk to you about.