GET THE BEST DEAL AND ADVICE ON YOUR FIRST MORTGAGE
First Home Loans
House hunt with confidence
Buying your first home can be a daunting process. At Capital Advice we make it easy. We will organise your mortgage pre-approval so that you can look for your first home knowing that the finance isn’t an issue.
We can help and advise you throughout the process from making your offer through to selecting the right lender and borrowing structure. We will then look to secure you the best interest rate and legal fee contribution.
Home Loans in New Zealand – Capital Advice has your Mortgage and Home Loan Advisory Sorted!
Understanding Home Loans
Selecting the right home loan involves understanding your financial situation and long-term goals. Our advisors will help you compare different options and find a loan that suits your needs, ensuring you make an informed decision. Whether you are looking at buying your first home, growing your investment portfolio or refinancing, at Capital Advice, we offer a range of solutions tailored to your needs.
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Types of Home Loans – A breakdown for A First Home Buyer!
We offer specialised advice on loans for first-time home buyers, making it easier to take your first step onto the property ladder. With customised home loan packages to fit your unique financial situation our goal is to provide you with the most suitable and cost-effective options so that you can focus on finding the dream home. Our experts will organise a pre-approval (of) based on your mortgage requirements, ensuring you get the best interest rate and the most suitable type of home loan. There are three options for home loans:
- Fixed-Rate Loans: Enjoy stable repayments with a fixed interest rate for the loan term.
- Variable-rate or Floating Loans: Benefit from flexibility of payments and have an interest rate that moves when the OCR does (can be up or down). Abbreviation – what does OCR mean
- Interest-Only Loans: Pay only the interest for a set period, reducing initial payments.
Looking for an Investment Home Loan?
Our expert mortgage advisors also offer tailored solutions for securing the right investment home loan that maximises your returns. At Capital Advice, we can help you get competitive home loan options in New Zealand. From assessing your financials to selecting the ideal loan structure, our advisers will guide you through each step, ensuring you secure flexible loan terms and banking fees. We are in the business of getting you the best mortgage rates and terms, allowing you to focus on building your investment portfolio with confidence.
Affordability and Accessibility of a Home Loan Mortgage
Since property prices in New Zealand have been on a steady rise, securing a home loan is more important than ever and we make it our business to help you get one. We make home loans accessible and affordable within the market conditions. We help you understand your affordability given the current property prices and interest rates and when you apply for a home loan negotiate terms and schemes on your behalf to get you the best outcome.
To apply for a home loan, you typically need to have the following:
- A stable income
- A good credit history
- A cash deposit or equity in your current property
The amount of money you need for a deposit for a home loan in New Zealand varies based on your individual circumstances, the property you intend to buy, and the lending criteria of the bank or financial institution. Most home loans in New Zealand require a deposit of at least 20% of the property’s purchase price but for first-home buyers, there are some options to get a home loan with a lower deposit. Capital Advice negotiates with lenders to secure competitive interest rates for your loan account and any additional fees, helping you save money over the life of your loan.
The overall amount you need will also depend on the cost of the property you intend to purchase. For example, if you are buying a home priced at $500,000, a 20% deposit would be $100,000 so you will need to get approved for a $400,000 home loan.
Many first-home buyers use their KiwiSaver savings to contribute to their savings and to be used as a deposit for their first home loan. If you’ve been a member of KiwiSaver for 3 years and if you are a first-home buyer you can withdraw your savings and use it as a deposit for a new build home or an existing home.
Whether you are a first-home buyer or investor, you can also use an online mortgage calculator in NZ for estimation of what level of debt you can afford. For more information, contact us to get tailored advice based on your financial situation.
