The Home Of Welcome Home Loans

Sometimes the hardest part of buying a home can be saving the deposit, now if you are able to get together 10% –  The 90% LVR Welcome Home Loan may be your answer to the deposit struggle.  With a Welcome Home Loan, your dream of owning your own home is now one step closer.

The maximum amount you can borrow with a Welcome Home Loan depends on the region you are buying in. Each region has a house price cap. The maximum loan for that region is the house price cap less your 10 percent deposit.

The deposit can be entirely gifted!

There can also be three or more people, who are living together, who can join their resources and apply for the Welcome Home Loan together.

The house price caps are:

  • Auckland $600,000 for existing/older properties and $650,000 for new properties
  • Hamilton City, Tauranga City, Western Bay of Plenty, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Nelson City, Tasman District, Waimakariri District, Christchurch City, Selwyn District,  Queenstown Lakes District $500,000 for existing/older properties and $550,000 for new properties
  • All other areas $400,000 for existing/older properties and $450,000 for new properties

There is other criteria (may not be a complete list) that must be met to be eligible for this type of loan:

  • You will need to meet the specific lending criteria of the participating lenders.
  • Applicants must be New Zealand Citizens or Permanent New Zealand Residents (holding a ‘Permanent Resident Visa’).

Maximum Income:

  • For 1 borrower you can have a maximum yearly income of $85,000 (before tax).
  • For 2 or more borrowers you can have a maximum household yearly income of $130,000 (before tax).

If this sounds like something that you would like more information on please watch our video below, and contact us for a chat about your various options. We have access to a range of Welcome Home Loan banks/lenders, and each differs subtly.