Mortgage Select Limited
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Are you getting ready to enter the property market but don’t know where to start? How much money will I need?
How much will the bank lend?
What actions do I have to take to prepare for this?
Where do I start?
This can be both an exciting and daunting time!
We have access to all the major lenders and can offer solid advice from low deposits, advice & support, Kiwisaver and grants.
Pre-approval
This will give you more security knowing what you are able to afford, it will also help speed the process up once you have found your home.
What is really important is understanding the process, terms and conditions which come with pre-approval and buying a house. This is where we can help, working through issues and providing solutions
Low Deposit - don’t have a large deposit but still want to join the kiwi dream of owning a home? Many banks typically require a 20% deposit however we can discuss options to help boost you to this level, not everyone is eligible so contact us today to discuss further.
KiwiSaver - I have Kiwisaver, can I use this?
Absolutely, however there are some terms and conditions attached. You must have been contributing for a minimum of 3 years to be able to withdraw some of this to be used on your new home.
Kiwisaver is a great option for first home buyers looking to buy and live in their home. If eligible you will be able to use most of your Kiwisaver expect the $1000 kickstart. This is a great way to increase the size or add to your current deposit to help boost it.
Contact Mortgage Select today to discuss further, we work with all major banks and can take care of this for you.
First Home Grant - What is this and am I eligible?
Have you been contributing to Kiwisaver for over 3 years, well you may just fit within First Home Grant and could be eligible for up to $20,000!
Are you thinking of purchasing an existing home then you could qualify for up to $5,000 for each member. Also, if you’re building or purchasing a new home, or purchasing land to build a new home on, then you could qualify for $10,000 for each member.
To be eligible for a First Home Grant you must:
• Have been contributing the required minimum amount to Kiwisaver for at least three years
• Be 18 years of age or over
• Be purchasing or building your first home
• Have a household income (before tax) of less than $95,000 per year (for one person), or less than $150,000 per year (for two or more people)
• Have a deposit that is 5% or more of the purchase price, including the addition of the grant
• Plan to live in the house for at least 6 months following settlement or completion of the property
Talk to one of our Mortgage Select brokers today to check your eligibility. https://kaingaora.govt.nz/home-ownership/first-home-grant/
First Home Loan - Am I eligible for this and what is this?
It’s tough saving for your first home and sometimes a struggle to gather the large deposit required. There are selected banks out there that provide what’s called the “Welcome Home Loan” this is underwritten by Housing New Zealand.
There is criteria around what is required to qualify for this however we are happy to talk you through the options with this otherwise review on https://kaingaora.govt.nz/home-ownership/first-home-loan/
Mortgage Select Limited