Make your move with a First Home Loan

Benefits at a glance

Access to home ownership with a deposit as little as 5%.
Be supported by a dedicated ASB Home Ownership Manager who will help you every step of the way.

Use different options to build your deposit such as savings, a gift from family, and a Kiwisaver withdrawal.
Manage your home loan on mobile and online 24/7 via ASB Home Central.

Who is eligible for a First Home Loan?

To be eligible, you must be buying your first home and plan to live in the house you buy - the loan can't be used to buy a rental or investment property; it must be owner occupied.

There are also income limits for eligibility for a First Home Loan. You can apply if your annual household income before tax was:

$95,000 or less for one borrower.
$150,000 or less for one borrower with dependants.
A combined $150,000 or less (for two or more borrowers regardless of dependants).

ASB will be able to advise if you are eligible for a First Home Loan or help you understand what other options are available to you.

The First Home Loan is primarily for first home buyers, but you could still be eligible even if you've owned a property in the past and are in a similar financial position to a typical first home buyer. For example, you are starting from scratch financially, no longer own a home, or have been through a divorce.

Things you should know

1.

There is a one-off Lenders Mortgage Insurance (LMI) fee of 1.2% of the loan amount that you'll need to pay when you drawdown your new home loan. Alternatively, you can add this to your home loan instead.

2.

Kāinga Ora will need to approve your home loan application, but we will manage this for you.

3.

Apply with us directly by talking to an expert near you.

For more information you can visit kaingaora.govt.nz.

Refinancing your existing home and debt consolidation.
Finance to build a new home - turnkey or construction.
Purchasing a holiday home or investment property.
Increasing your First Home Loan borrowing at a later date.

Our home team is here to help

If you're browsing, budgeting, or buying, our team of Home Ownership Managers will be with you every step of the way to answer any questions you have.

Whether you'd like to meet with us in your home, or at an ASB advice centre, we have home buying experts that can meet at a time and place that suits you.

Log in to book an appointment

Find an expert near me

First home buyers get $5,000 cash. Minimum.

We're giving first home buyers $5,000 cash when you take out a home loan of $200,000 or more.

Whatever you're looking for in a home, we can help.

Apply online

ASB's lending criteria and terms apply. To be eligible for the $5,000 cash contribution, you must have new lending of $200,000 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 application agreeing that the loan will remain with ASB for at least three 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 calculators

See how much I could borrow

Tell us about your income, debts and expenses, and we'll give you an estimate of what you could afford.

Borrowing calculator

Calculate what my repayments could be

Compare different interest rates, terms and repayment amounts.

Repayment calculator

ASB's First Home Loan lending and eligibility criteria apply, in addition to ASB's lending criteria, terms, conditions and fees. Personal information will be shared with Kāinga Ora as part of the approval process for First Home Loans.

First Home Loan