Buying your first home is a big milestone, so we're here to help make it a little easier.
If you're an eligible first home buyer, you could receive a $5,000 cash contribution when taking out a home loan of $200,000 or more with ASB - even if you have less than a 20% deposit.
You'll need to be buying your first home to live in and have never owned a residential property in New Zealand.
How to qualify
To receive the First Home Buyer Cash Contribution, you must:
- Meet ASB's home lending criteria, the offer terms and be approved for your home loan.
- Meet the First Home Buyer eligibility requirements.
- Let your lender or broker know before settlement that you'd like to be considered for the First Home Buyer Cash Contribution.
Apply online
Full First Home Buyer Cash Contribution terms:
- You must be purchasing your first home to live in or must not have previously owned a residential property in New Zealand. Where one or more borrowers have previously owned a residential property, ASB may, at its discretion, determine eligibility for a reduced cash contribution.
- A minimum home loan of $200,000 must be drawn down in full at settlement.
- The cash contribution will be paid on or after settlement once all eligibility requirements have been met.
- If you refinance, repay, or otherwise terminate your loan within 36 months of receiving the cash contribution, including through a mortgagee sale, you will be required to repay a pro-rata portion of the cash contribution, as determined by ASB.
- This offer may be changed, withdrawn, or extended at any time.
Important information
Meeting ASB's home lending criteria does not automatically make you eligible for the First Home Buyer Cash Contribution. Eligibility requirements and offer terms also apply. If you believe you meet the eligibility requirements and did not receive the First Home Buyer Cash Contribution, contact your lender, broker, or ASB within 14 days of settlement. We'll review your application and, where eligible, ensure the correct cash contribution is paid.