Finance Options @pūtea
Is finance an obstacle?
Purchasing your own home can be one of the most stressful things you will ever do in your life. Buying a house can be costly and time-consuming, making the whole process confusing for soon-to-be homeowners.
The whole package
The home loan shop is a good place to start if you need financial advice, or want to know what you are eligible for. Their mortgage experts are educated in the art of property buying, loan products, banking rates and financial assessment, taking the hassle away from you. One advantage in talking with their friendly team is they will help you assess your current financial position, your capacity to acquire a loan, and more importantly your ability to maintain it in the future.
With expert advice on the most suitable home loan for your financial situation, purchasing your own home can be easy. The home loan shop have extensive knowledge of the property market and are associated with a wide network of lenders who offer various home loan options – rest assured it’s their job to make sure you get the best one!
They have a number of allied services they will recommend along the way, – whether it be arranging a valuation, booking a building inspection or advocating legal advice. The most exciting part is that buying a home through the home loan shop is free of charge. Please visit the home loan shop website or call them on 0508 562 674 for more information.
Options for first home buyers
KiwiSaver offers you the following features to help you into home ownership, which can be used to get you into your first home:
- First home saving withdrawal – after a minimum of three years’ membership in a KiwiSaver scheme, you may be able to withdraw your savings, employer contribution and all returns (interest etc). Government contributions are not paid out in the first-home withdrawal (this includes the $1,000 kick-start, if you received one when you first joined).
- First home deposit subsidy – you can apply for the deposit subsidy if you have belonged and have regularly contributed to a KiwiSaver scheme, complying fund or exempt employer scheme for at least three years. Under KiwiSaver HomeStart, buyers are eligible for $6,000* after three years, $8,000* after four years, and $10,000* after 5 years for the purchase of a newly-built home (* new rates effective April 1st 2015).
- Welcome Home Loans are offered by lenders, supported by Housing New Zealand and designed for first home buyers who can afford to make regular repayments on a home loan, but have trouble saving for a large deposit. With a Welcome Home Loan you only need a 10 percent deposit, not a 20 percent deposit as required by most lenders. To be eligible for a Welcome Home Loan, your combined household income for the last 12 months must have been $80,000 or less (before tax) if you are the sole borrower. If you are partnering with one or more borrowers to buy a house, then you can have a combined household income of up to $120,000 (before tax).
- First Home is a home ownership initiative which helps eligible buyers afford to buy selected properties Housing New Zealand is selling across the country. To help with your deposit, eligible buyers can receive a grant of 10 percent of the purchase price of the property, capped at $20,000. If you have previously owned a home, you may also be eligible for the initiative if your financial situation is similar to that of a first home buyer. If you are eligible for the other options above; KiwiSaver first home saving withdrawal, deposit subsidy and the Welcome Home Loan, you can combine these with the First Home grant to help you buy a First Home property.
Our Client Portal
Real Time Access To View Progress on Your Build
Building a new home is an exciting and important endeavor, and Friday Homes wants the process to be as smooth and enjoyable as possible. That is why we provide each of our clients with access to a secure website with all of the details of their project.
Whether you are at home, at work, on the road, or on vacation, Friday Homes puts information at your fingertips about your selections, upgrades, financial decisions, questions, documents, photos, and more.
Watch the demo video to see just a few of the ways our
online client access keeps you in touch and well-informed during the
construction of your new home.