Buying guide
Getting a mortgage? Here are 15 tips for first home buyers
Let’s get your finance sorted
AI summary
Securing a mortgage in New Zealand requires careful financial preparation. Start by cleaning up your bank accounts, checking your credit score, and paying off consumer debt. For at least three months prior to applying, demonstrate strong savings habits and disciplined spending.
Engage a mortgage broker to find the best rates and get pre-approval before you start house hunting. Avoid major life changes like switching jobs. Explore support options like KiwiSaver withdrawals and the 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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