Can I still buy my first home with a 5% deposit?

With the current perfect storm of rising cost of living and higher interest rates, it might be almost impossible to buy a first home with a deposit that’s less than 10% – unless you qualify for low income government assistance. Even with help from the government, the challenge can be affording the home loan repayments, […]

Understanding low equity margin (LEM) and low deposit home loans

Low equity margin (LEM), aka low equity premium (LEP), is the price you pay for having a smaller-than-optimum deposit for the property you want to buy. It’s either an extra bit of interest that’s added to the going rates or a one-off fee that’s added to your loan. As house prices creep up, it’s getting […]

How much deposit do you need to buy a first home in NZ?

The golden rule for the minimum deposit required to buy a first house is 20%. But there are opportunities to get a home loan with a deposit as low as 10% or even 5%, in special circumstances. In this guide, we look at major bank lenders’ approaches to lending money for first home buyers. We […]