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First Home Loan.

It could be easier than you think to get into your first home. With a First Home Loan through Westpac and Kāinga Ora - Homes and Communities, you only need a 5% deposit.

Calculators

Benefits.

  • Get into your first home sooner, with as little as 5% deposit.
  • Option to purchase a home with family or friends.
  • Choose from floating or fixed home loan options.
  • A one-off Lenders Mortgage Insurance (LMI) premium applies instead of a low equity margin (LEM).

 

Qualifying for a First Home Loan.

  • Your total annual household income before tax is $95,000 or less for one borrower, $150,000 or less for one borrower with one or more dependents, or a combined annual income of $150,000 or less for two or more borrowers
  • You will have to live in the home
  • Must be buying a first home
  • You are a permanent New Zealand resident or New Zealand citizen
  • If you are a KiwiSaver member you might also be eligible for additional assistance.

Check if you are eligible for a First Home Loan.

How it works.

This loan can only be used to purchase an owner-occupied property, which means you must live in the house you buy. A First Home Loan gives you the flexibility of being on a fixed or floating interest rate.

When applying for a First Home Loan, you will need to pay a one-off Lenders Mortgage Insurance (LMI) premium1. Learn more.

Calculators.

Find the best option for you with our home loan calculators.
See all calculators and resources

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.

First Home Loan terms & conditions

1 A Westpac First Home Loan can only be used for the purchase of an owner-occupied first home. Income caps apply. A one-off lenders mortgage insurance premium applies. Current First Home Loan and 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.