First home buyer special^*

See all home loan rates.

*Available for new lending to First Home Buyers from $250,000. Minimum 20% equity required. Offer also available for Kāinga Ora First Home Loan. This offer is subject to change and could be withdrawn at any time and without notice. Cash contribution terms and conditions apply.

Special eligibility and lending criteria apply. Fixed interest rates from 5.49% - 6.50% p.a. Floating interest rate of 7.64% p.a. T&Cs and a one-off lenders mortgage insurance premium of 0.5% of total amount borrowed will apply. View rates, fees and T&C’s.

First Home Loan eligibility

To be eligible for a Kāinga Ora First Home Loan with Unity, you need to meet the following criteria:

• Be at least 18 years of age
• Be a New Zealand Citizen, Permanent Resident Visa holder, or Resident Visa holder who is ‘ordinarily a resident in New Zealand’.
• Be a first-home buyer, or a previous homeowner in a similar financial position to a first-home buyer
• Have a before-tax income from the last 12 months of:
  • $95,000 or less for an individual buyer without dependants; or
  • $150,000 or less for an individual buyer with one or more dependants; or
  • $150,000 or less (combined) for two or more buyers, regardless of the number of dependants
• Have a minimum deposit that is at least 5% of the purchase price of the home you are interested in buying (inclusive of all savings, grants, first-home withdrawals, and gifts)
• Be purchasing a home for you to live in as your primary place of residence
• Not own any other property or land, this does not include ownership of Māori land
• Be purchasing a property of less than 1 hectare
• Pay a 0.50% Lender’s Mortgage Insurance premium

For more information on Kainga Ora’s First Home loan, visit the Kainga Ora website. 

If you don’t think you are eligible for a First Home Loan, you may still qualify for a Home Loan with Unity.

Help with your deposit

If you’re struggling to save enough for a deposit, there are options available to help you get there faster.

• Gifting - Many Kiwis turn to their family members (or the ‘bank of Mum and Dad’ as its sometimes referred to!) to build a deposit for their first home. Not all lenders will accept a fully gifted deposit, as they generally prefer that you are contributing at least 5% yourself through saving or the sale of an asset in addition to the gifted sum. With that said, gifting is a great way to help build your deposit faster. After all, every bit helps. You’ll need your gifter to sign a declaration as evidence that these funds do not need to be paid back. 
• KiwiSaver - If you’ve been contributing to KiwiSaver for more than three years, you may be eligible to withdraw your KiwiSaver savings to purchase your first home. You must intend to live in the property, be a first home buyer, and purchase a property within New Zealand. Provided you meet the eligibility criteria, you can withdraw all but $1,000 of your total KiwiSaver balance to put towards buying your first home. For more information, check out this video.