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Buying your first home.

The idea of owning your own home is exciting! We're here to guide you through your journey, every step of the way.

Calculators

Why buy?

Buying your first home is one of life's major milestones - no more landlord, no more property manager, no more rent rises. You get to move in and stay put! It's a fantastic feeling and a major responsibility.

For help and guidance of buying your first home, we've broken things down step by step below. Or for a more detailed overview you can also download our First home buyers guide.

Paying for your home.

1

Your deposit

To buy your new home you’ll need a deposit. This is ideally 20% or more of the value of the property although it may be possible to buy with a lower deposit, depending on your circumstances. You pay the vendor (seller) some of this money when you reach an unconditional agreement for sale (via your lawyer).
2

Your home loan

You'll also need to be approved for a home loan (mortgage) for the remaining cost of the house - remember, the bigger your deposit, the smaller the loan and vice versa. You 'service' your loan regularly, paying it back over a number of years. The bank looks carefully at what you earn and spend when we calculate how much you can borrow.

Saving for a deposit.

This is where your home buying dream begins. Consider these smart ways to get a deposit together, and make the most of the money you save.

Tips for growing your deposit KiwiSaver¹ and low deposit options Savings account options

First Home Buyer Seminars.

Our First Home Buyer Seminars are run by our Mobile Mortgage Managers who are home loan experts, have loads of local knowledge and can help you through your home buying journey. Each seminar covers: 

  • An update on your local market
  • Tips for getting your deposit together
  • Alternative ways to get on the property ladder
  • What we look at when assessing home loan applications
  • The home buying process

Contact your local Mobile Mortgage Manager to find out when the next seminar is in your area. 

What you need to apply.

Applying for a home loan requires a little homework. We have mapped out the key steps you'll need to take.
How to apply for a home loan

Going house hunting.

Once you have your deposit and your conditional approval2 in place, it's time to go house-hunting! Here are some considerations when looking for your new home.

Finding a home that's right for you Location, location, location Costs to consider Doing your due diligence

House hunting checklist.

What you need to know before you buy.

The final steps.

Congratulations! You are on the home stretch. There are a few final steps before you are officially a home owner.

Three ways to buy Finalising your home loan Next steps after buying your home

Your home loan options.

Whatever your needs are, we have home loans options to suit.
Compare loans

Low deposit options.

Featured rates.

* Min 20% equity, plus salary credit to a Westpac transaction account. Not available with any other Westpac home loan offers, promotions or package discounts. Loans for business or investment purposes excluded.

If you don’t pay amounts when they’re due, your loan account may exceed its limit and the rate of interest that’ll be applied to the overlimit amount will be the interest rate + 5% p.a.

Calculators.

See all calculators

How much can I afford?

Get an idea of how much you could borrow using our affordability calculator.

Try the affordability calculator

How much will my repayments be?

Work out how much your home loan repayments might be.

Try the repayment calculator

Talk to an expert.

Buying a property can feel daunting and the market challenging, whether it’s your first home, second home or buying an investment property. But it doesn't need to be. Our Mobile Mortgage Managers are experts in home lending and are ready to help guide you through the home buying process, from start to finish.

To get in touch.

Meet with an expert

Our Mobile Mortgage Managers can come to you, at a time and place that suits you best.

Find a Mobile Mortgage Manager

Talk to an expert

Request a call back from a Mobile Mortgage Manager.

Request a call back

Visit us

Make an appointment to talk to a home loan expert in branch. 

Find your nearest branch

Apply Online.

Existing customers can apply for a home loan via Westpac One® online banking.

Log in to Westpac One.

Things you should know.

1 The information above is subject to changes in government policy and law, and changes to the Westpac KiwiSaver Scheme, from time to time.  

2 Conditional approval requires a credit check, confirmation of the details provided in your application and responsible lending inquiries. Other conditions may also apply depending on the nature of your application.

Westpac's eligibility criteria, home loan lending criteria, terms and conditions apply. A low equity margin may apply.