Your first home buyers guide

Thinking about your first home but not sure where to start? Explore our comprehensive first home buyers guide, with helpful resources for every stage of your home ownership journey.

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Thinking of your first home?

If you've just started thinking about home ownership or if you're browsing real estate sites over your morning coffee, we know that buying your first home and navigating a world of acronyms and jargon can be a little tricky. That's where we come in.

We're here to answer all the questions you have, like how much of a deposit you need, how to use your KiwiSaver savings, and the low down on pre-approvals. Wherever you are on your first home buying journey, we can help.

Let's talk

Select where you are on your first home journey

You're thinking about how to get your first home but you're not sure where to start. 

Starting out

You're now thinking about budgeting and how you can save for your deposit.


Power saving

You're researching what's out there and hunting for your first home. 


First home buyers get $3,000 cash. Minimum.

We're giving first home buyers $3,000 cash when you take out a home loan of $250,000 or more. Whatever you’re looking for in a home, we can help.

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ASB’s lending criteria and terms apply. To be eligible for the $3,000 cash contribution you must have new lending of $250,000 or above, the lending must be for purchasing a home to be owner-occupied by the applicant(s) and must be the applicant’s first home loan (as determined by ASB). The cash contribution is conditional on the applicant agreeing that the loan will remain with ASB for at least 3 years and if the loan is repaid within that time a pro-rata portion of the cash contribution, based on the remaining months left, will be repaid to ASB. This offer cannot be used in conjunction with any other ASB cash contribution offer.

Home loan interest rates

Min 20% equity

12-month fixed rate
18-month fixed rate

24-month fixed rate

36-month fixed rate
48-month fixed rate

60-month fixed rate
6-month fixed rate
24-month fixed rate

18-month fixed rate

36-month fixed rate
12-month fixed rate
48-month fixed rate
60-month fixed rate
6-month fixed rate
Housing variable rate

Rates may change. Loan processing fee of up to $400 may apply. After the fixed rate period the Housing Variable Rate will apply. For those with less than 20% equity see here for rates.

Frequently asked questions

Where do I start if I want to buy a home?

If you are starting to think about buying your first home then we have heaps of handy information to help here. The first key step to buying a home is working out what you want and what you can afford. This will help you work out how much you will need to save to turn your dream of buying a home into a reality. 

How much do I need to save for a deposit on a house?

To get a home loan your deposit will generally have to be 20% of the property's value – but it all depends on your individual situation. Buyers may be able to get into a home sooner with a deposit as little as 10%.

How much can I afford to spend on a house?

When buying your first home, the amount you can afford to spend on a house will depend on how much you earn and the expenses you will need to pay. Factors that contribute to how much you can afford to borrow include but are not limited to the following; your income (individual or joint), living costs, number of people supported by your income, KiwiSaver contributions and interest rates. Use our home loan borrowing calculator to see what you could afford to borrow. 

How do I withdraw my KiwiSaver funds to buy my first home?

To withdraw your KiwiSaver funds to buy your first home, you need to check you are eligible and have a sale and purchase agreement showing you as the purchaser.

If you are eligible, tell your lawyer that you would like to make a KiwiSaver first home buyers withdrawal and they will guide you through the process.

You will need to complete an application, which can take up to 10 days to be processed. For more information see our KiwiSaver first home withdrawal page.

How do I apply for the First Home Grant?  

To apply for a First Home Grant you need to check you are eligible

If you are eligible, there are two ways to apply:

  • Pre-approval – if you are still looking for a home to purchase
  • Full approval – if you have found a home you would like to buy

For more information or to apply, check out the First Home Grant page on the Kᾱinga Ora website.

How do I apply for a mortgage?

To get started you can apply for pre-approval online, over the phone, at any ASB branch or one of our ASB mobile lending managers can come to you. 

Borrowing calculator

Maximising your KiwiSaver savings for your deposit

Every little bit counts!

Don't miss out on possibly adding thousands to your KiwiSaver account over time, with the annual Government contribution.

  • If you're eligible, for every $1 you put into your KiwiSaver account, the Government puts in 50c, up to a maximum of $521.43 each year - it's called the annual Government contribution.
  • Simply transfer money from your bank account to your ASB KiwiSaver Scheme account through FastNet Classic internet banking or the ASB Mobile app. Setting up a regular automatic payment is a good option so you don't have to remember to contribute.

Find out more

Terms and conditions apply

Let's talk about your first home

Call us

We’re here weekdays 8:00am – 6:30pm or Saturday 8:30am – 5:00pm to answer your home loan questions.

0800 100 600

Apply online

Ready to take the next step? 

Apply online.

Visit a branch

Visit us at any one of our many branches across New Zealand.

Find a branch

We can come to you

Our mobile lending managers cover much of the country.

Find a lending manager

ASB's lending criteria and terms apply.

Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB KiwiSaver Scheme)

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