• When building a prefabricated home you can choose one that suits you and your lifestyle.
  • Prefabricated homes can be built faster and cost less than a standard new build.
  • The Prebuilt home loan is purpose-designed for prefab (modular) houses. You need as little as 10% deposit¹.
  • 12 months conditional approval, giving you plenty of time to find the right section and plan your builds².

How it works.

Designed for pre-built homes

Prebuilt is similar to a normal construction loan. The difference is, it covers prefabricated or modular homes that are built in a factory and transported on to your site. This is why prefab homes are quicker and more cost-effective to build. 

With a pre-built home, there are a few extra requirements to protect you financially. These include:

  • Additional insurance cover during the different stages of the construction (i.e. the initial build and transportation to site)
  • Some checks for your builder to meet before construction begins.

Read more about construction loans

What kind of home can I get?

From a tiny house to a spacious family home, you might be surprised at all the different sizes and styles of prefabricated home. Visit Prefab NZ to learn more.


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

Get in touch.

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Things you should know.

1 If lending for the project is over 80% LVR (loan-to-value ratio) for owner occupiers or 60% LVR for investment properties, it must be a new build with a single fixed price contract that specifies a completed, ready to live in property. Applications must include Master Builders Guarantee or a Certified Builders Guarantee, which includes 'non-completion' cover.

2 Eligibility and lending criteria, terms and conditions apply for recently completed new builds.

Westpac's home loan lending criteria and terms and conditions apply. An establishment charge may apply. A low equity margin may apply. 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.

Documents and fees

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