I want to buy my First Home

Looking to buy your first home?

Buying a first home in Auckland should be an exciting process – and with the right help, it is. Getting a leg up on the property ladder and getting a first home mortgage in Auckland can, however, be a process that involves a lot of questions.
At Mortgage People, we have been around for almost 30 years. That’s plenty of time to answer any of your questions as you look to take that very first step.
 
Some things you might want to know? First up you need to know how much you can borrow and this is answered pretty much by two questions:

  1. How much deposit do you have
  2. What are your incomes

Other things can come into the equation such as parental assistance, guarantees and purchasing with others. With all of these questions you will need to talk to one of our advisers to get more information. Once we know the answer to how much you can borrow we can put a mortgage application together and obtain approval for you.

The question of “how long will it take” is a little open ended in that sometimes if all the information is available we have obtained approval within 24 hours while other times it can take up to or over a week.

After doing literally thousands of applications one thing we are really good at is what questions to ask and where to go to get approvals so you can rest assured we will have you approved as fast as possible

What deposit will I need? The greater your deposit the greater your options, and you’ll pay less in interest. Ideally you’ll have 20% or more, but don’t fret! Most lenders will go as low as 10% depending on your circumstances.

Can I use my KiwiSaver? Yes! On two conditions; this is your first home, and you’ve had Kiwisaver for at least three years.

How much will I be able to borrow? Try this

Some tips and hints we have for you:

  • Sometimes valuation fees (if applicable), legal fees (we can get the bank to pay these on occasions) and insurance can be added to the mortgage which is really helpful when you are first starting out.
  • If you have any concerns about being able to afford the mortgage payments then try this as it has been really helpful to others.
    Try putting aside the difference between the rent you are currently paying and your proposed mortgage repayments and add say another $50 per week for rates and insurances, how comfortable does this feel as it will give you a good idea of your ability to meet the costs of owning your own house.  

Still have questions? Everyone’s situation is different so get in touch and we’ll use our 30 years of experience to help get you on the ladder.

We'd love to tell you more

Contact Us