Buying guide
Getting a mortgage? Here are 15 tips for first home buyers
Let’s get your finance sorted
AI summary
Getting a mortgage in NZ requires preparation. This guide for first home buyers advises seeking help from a mortgage broker and getting your finances in order.
Key steps include checking your credit score, paying off consumer debt, and creating a budget. Lenders review your last three months of transactions, so demonstrate consistent savings and avoid big changes like a new job.
Get pre-approval before house hunting and explore support options like KiwiSaver or a Kāinga Ora First Home Loan.
How to get a mortgage in New Zealand
1. Get professional advice
2. Shop around
3. Never overcommit
4. Keep your accounts clean and tidy
5. Check your credit score
6. Understand your spending & create a budget
7. Get rid of bad debt
Step one towards buying a house is always sorting finance.
8. Get proof of employment and income
9. Don’t make any big changes
10. Make savings clear
11. Save more than your mortgage
12. Make an effort for three months
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Asking for for less could increase your chances of approval.
13. Get pre-approval before you start shopping
14. Sort out your documentation
15. Get a little help
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