First Home Loans from just 5% deposit

Not sure how much you can afford to borrow? Check out our handy home loan calculator below.

First Home Loans from just 5% deposit

Not sure how much you can afford to borrow? Check out our handy home loan calculator below.

First home buyer special

Get onto the property ladder sooner with an unbeatable interest rate and some extra cash in your wallet.

6.45% p.a. fixed for 24 months + $3,000 cash contribution                      

Offer 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 This offer is subject to change and could be withdrawn at any time and without notice.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.

    


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.

Featured rates

Standard rate

6.99% p.a.

Fixed for 12 months

Special rate*

6.45% p.a.

Fixed for 24 months

Standard rate

6.85% p.a.

Fixed for 24 months

See all home loan rates.

*Offer available for new lending to First Home Buyers from $250,000. Minimum 20% equity required. Offer also available for Kainga Ora First Home Loans. This offer is subject to change and could be withdrawn at any time and without notice.

Special eligibility and lending criteria apply. Fixed interest rates from 6.45% - 7.35% p.a. Floating interest rate of 8.64% 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.

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Home buying made easy

No matter what stage you're at in your home-buying journey, we can help you navigate the process. 

From preparing to buy to making an offer, find the path to your property goals with our step-by-step- First Home Buyers Guide.

Download

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Ready to make the move?

If you're ready to complete a home loan application, let's get started.

  1. Simply download our full pdf application form below.
  2. Complete with your details. 
  3. Email to homeloans@unitymoney.co.nz to apply. Easy.            

Apply now

                 

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 - Your deposit could be gifted by a family member (or the Bank of Mum and Dad as it’s sometimes referred to!). Both you and the family member gifting the deposit will need to confirm in writing that the funds are in fact a gift and not a loan that must be repaid.
  • First Home Grant - As a first home buyer, you may be eligible for a First Home Grant of up to $10,000 to put towards the purchase of your first home. Find out if you are eligible.  
  • KiwiSaver - If you have contributed to KiwiSaver for more than three years, you may be eligible to withdraw your KiwiSaver funds 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. If you meet the eligibility criteria, you can withdraw all but $1,000 of your total KiwiSaver balance. For more information on KiwiSaver for first home buyers, check out this video.

Member discounts

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10% off property valuations

All Unity members and home loan applicants are eligible for a 10% discount on residential property valuations with Property InDepth.

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$50 off building inspections

Unity has negotiated a $50 discount on the cost of pre-purchase property inspections from Betta Inspect It.

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Discounted legal fees

Unity members can benefit from a special rate of $1,350 inc GST for home purchase legal fees with Gifford Devine.

Helpful guides

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How much deposit do I need to buy a house?

Saving a deposit can be the biggest hurdle when it comes to buying your first home. So, how much deposit do you need to buy your first home in NZ? And what help is available? Let's find out.

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As a first home buyer, where do I start?

Applying for your first home may seem complicated, but it doesn't have to be. From deposits to financial assistance, we're here to help you understand the ins and outs. Check out our guide to buying your first home in NZ.

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What support is available for first home buyers?

As a first home buyer, you may be eligible for financial support in the form of a First Home Grant (up to $10,000) or a First Home Loan from just 5% deposit. Find out what you're eligible for.

FAQ

Have any questions?

You may find the answer on one of the pages below:

Brochures