Deposit & home loan options.

1. Consider all your Westpac home loan options

You can fix your home loan interest rate and it will stay the same for the agreed fixed rate term, even if interest rates in the market change. Or you can have a floating rate that will change with the market but you can repay lump sums or increase your repayments whenever you like. You can even choose a combination of the two. It's important to consider how each loan option works so you can choose a structure that will work best for your situation.

Learn more

2. Check whether you can use KiwiSaver

You might be able to withdraw most of your KiwiSaver1 to put towards buying your first home. 

Learn more

3. Low deposit home loans

If you don't have 20% deposit2, there are still ways you can get into your new home including a:

  • Choices home loan, they are often available for customers with less than 20% deposit
  • First Home Loan3, this is a partnership between Westpac and Kāinga Ora - Homes and Communities for first home buyers
  • Family Springboard loan, your family or trusted party you have a personal relationship with, can help you get into your own home sooner
  • Construction home loan, if you're considering building. This options only requires 10% deposit. A low equity margin may apply if you borrow more than 80% of the property's value.

Learn more

4. First Home Grant

You might also be eligible for a First Home Grant through Kāinga Ora of up to $10,000. Learn more and see if you're eligible.

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, or the Westpac Choices Home Loan with Airpoints™. Loans for business or investment purposes excluded.


Find the best option for you with our home loan calculators.

Get in touch.

Meet with an expert

Our Mobile Mortgage Managers can come to you, when it suits you best.

Find a Mobile Mortgage Manager

Talk to us

Call us any time from 8am - 6pm weekdays, 9am - 3pm Saturday.

Call 0800 177 277

Visit us

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

Find your nearest branch

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 Lending criteria, terms and conditions apply. An establishment fee may apply. If you are applying for a mortgage with low equity (i.e. your deposit is less than 20%), an additional interest margin may apply of between 0.25% to 1.5% per annum depending on your level of equity.

3 First Home Loan can only be used for the purchase of owner occupied properties. Income caps and regional loan caps apply. A Lenders Mortgage Insurance Premium applies. Current First Home Loan lending criteria and terms and conditions apply. An establishment fee may apply.

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

Interest rates and fees are subject to change without notice. An additional fee or higher interest rate may apply to home loans if the application is accepted but does not meet the standard lending criteria.