Home Loan LVR criteria and Deposit solutions | www.matthewdawe.com

So what are some exemptions or ways of getting into a home when you have less than a 20% deposit? Matthew Dawe Mortgage Adviser here So you'll need 20% deposit but there are some exemptions

If you build a new property you won't need 20% deposit you may be able to get into a property for as little as 10% deposit Also if you are a first home buyer and you quality for a welcome home loan you will only need a 10% deposit You may also be able to use your Kiwisaver savings towards your first home and you may be eligible for the Kiwisaver homestart grant which is a grant from the government towards your deposit towards your first home So there are some ways of getting some help there for getting into your first home For investors you will need a 35% deposit with the LVR rules however if you are building a new property you won't need 35% deposit you will be able to get into a property for less, there is a no rule there

You may also be able to use existing equity in another home to buy an investment property So the rules are designed to be a brake pedal but those have been released slightly If you are interested in buying an investment property, your first home, please get in touch if you have any questions