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First Home Loan.

Your first home could happen sooner than you think. With a First Home Loan through Westpac and Kāinga Ora - Homes and Communities, you only need a 5% deposit.

Calculators

Benefits.

How it works.

  • Apply with us directly. Contact a Home Loan Expert today or apply in Westpac One® digital banking if you’re an existing Westpac customer.
  • Have a 5% deposit ready to purchase your first home.
  • Westpac will assess your application with Kāinga Ora to ensure you're eligible.
  • When you purchase your first home, you'll need to pay a one-off Lenders Mortgage Insurance (LMI) premium.

Qualifying for a First Home Loan.

To qualify for a First Home Loan, your annual household income before tax needs to be: 

    • $95,000 or less for one borrower
    • $150,000 or less for two or more borrowers with or without dependents
    • Or $150,000 or less for one borrower with one or more dependents
  • You are buying the first home that you will be living in. 
  • You are a New Zealand citizen or permanent resident

Check if you are eligible for a First Home Loan.

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

Speak to a Home Loan Expert.

Have a free, no obligation chat with one of your local home loan experts to learn more about our range of low deposit options, designed to help you into your first home sooner.

Request a call back

Fill in your details, and we'll get back to you. 

Schedule a call

Meet face-to-face

Our Home Loan Experts can come to you at a time and place that suits you. 

Find your local Home Loan Expert

Apply online

Existing customers can apply for a home loan in Westpac One® digital banking.

Visit your nearest branch

Learn more about your options.

Things you should know.

First Home Loan terms & conditions

  • A First Home Loan can only be used for the purchase of an owner-occupied first home.
  • A one-off Lenders Mortgage Insurance premium equal to 0.5% of the total borrowing applies.
  • First Home Loan eligibility criteria applies.
  • Westpac’s eligibility criteria and home loan lending criteria, terms and conditions apply.

General Home Loan terms & conditions

Interest rates are subject to change without notice. 

Documents and fees

View terms and conditions for all our home lending products here.