Welcome Home Loan Limits Increase as at 1st April

Welcome Home Loan





Housing New Zealand run a scheme to assist First Home Owners called the Welcome Home Loan. 

How it works

You need a 10% deposit – your deposit cannot be borrowed.
Income and Housing Value caps apply to this scheme as follows

Income Limits

  • $80,000 for 1 buyer,
  •  $120,000 for 2 or more buyers

Property Value Limits

Must be purchasing a property within the regional property value caps as follows;

  • Auckland – $550,000
  • Hamilton City, Tauranga City, Western Bay of Plenty District, 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 – $450,000
  • Rest of New Zealand – $350,000.

Other Conditions

  • You must live in the property
  • Must be a standard residential property
  • Applicants must be New Zealand Citizens or Permanent New Zealand Residents (holding a ‘Permanent Resident Visa’)
  • a $400 application applies – can often be added to loan
  • a 1% Low equity fee applies – can often be added to loan

Welcome Home Loans are only available from some lenders. The First Home Buyers Club can assist you with a pre-approval for a Welcome Home Loan. Simply click on the ‘Get your Welcome Home Loan pre-approval underway’ button on this page.

-For more information on  KiwiSaver HomeStart click here

-Visit Housing NZ