First Home Loans
Getting into your first home is a huge milestone. We help you make sense of your options so you can take each step with confidence.
Getting into the property market is one of the biggest financial decisions you will make. From confusing contracts and jargon-filled paperwork through to inspections and sealing the deal, we are here to give it to you straight.
As a first-home buyer, it is a good idea to explore your home loan options alongside any government help you might qualify for. This includes using your KiwiSaver savings towards your deposit, or looking into the First Home Loan scheme. The scheme is underwritten by Kāinga Ora, which allows participating lenders to approve your finance with as little as a 5% deposit if you meet the eligibility criteria.
Step by step, we help you make sense of the entire journey. We compare options across our panel of banks and lenders to find a loan suited to your circumstances and budget.
5 steps to doing your
first home loan right.
Download the ultimate First Home Buyers Guide and get access to your home loan cheat sheet, property buying checklist, tips to help you save for your deposit quicker and more!
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Meet with a Loan Market Mortgage Adviser
During your first session, we talk through your goals, take a look at your deposit savings and calculate how much you can comfortably borrow. From there, we help you pinpoint a suitable lender and loan structure from our panel to match your plans.
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Loan application process
We help you gather the essentials, including proof of income, recent bank statements and photo ID. Once your paperwork is ready, we lodge the loan application directly with your chosen lender.
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Assessment
Your lender checks your application to confirm the loan is affordable and fits their lending criteria. They review everyday living expenses, confirm your income details and run a standard credit check.
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Conditional approval
We secure your conditional approval, also known as pre-approval, from the lender. This outlines any final criteria you need to satisfy before full sign-off, giving you a clear budget and repayment guide so you can house hunt with confidence.
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Property checks and valuation
Once you find a home you want to offer on, your solicitor checks the legal details, such as the LIM report, title and building inspection. Your lender also reviews the property and may ask for an independent registered valuation, which we can help organise for you.
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Insurance
You need to sort two types of cover before moving forward. House insurance is required by your lender, meaning you need a certificate of insurance in place before settlement.
To keep your mortgage payments protected if life takes an unexpected turn, we also connect you with an insurance adviser to review personal cover like life, trauma, and income or mortgage protection.
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Unconditional approval
When your lender approves the property and all contract conditions are satisfied, your solicitor declares the purchase unconditional. They also submit your KiwiSaver first home withdrawal paperwork so your deposit arrives in time for settlement day.
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Loan structuring and documentation
Before settlement, we structure your loan to fit your budget by balancing fixed terms, floating rates or offset accounts. Your solicitor then receives the loan paperwork and arranges a time for you to sign the mortgage documents.
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KiwiSaver
With your KiwiSaver savings now put toward your deposit, your investment timeframe shifts toward your long-term retirement. We put you in touch with a dedicated KiwiSaver adviser to review your fund type, contribution rate and provider so your balance keeps working for your future.
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Loan settlement and move in!
On settlement day, your lender transfers your loan funds to your solicitor, who passes them to the seller's legal team. As soon as payment clears, the title updates to your name, the keys are handed over and you move straight into your new home!
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