Buying guide
Getting a mortgage? Here are 15 tips for first home buyers
Let’s get your finance sorted
AI summary
Getting your mortgage application ready involves careful financial preparation. Experts recommend working with a mortgage broker and getting pre-approval before you start house hunting.
Clean up your finances by checking your credit score, paying off consumer debt like Afterpay, and creating a budget. Lenders will scrutinise your last three months of bank statements, so demonstrate consistent savings and avoid big changes. Explore support options like KiwiSaver withdrawals and Kāinga Ora First Home Loans to help with your deposit.
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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