Low Deposit Home Loans

        Low Deposit Home Loans in New Zealand

The magic number when talking about saving a deposit to buy a house is often 20%.

$1,000,000
Loan amount $50,000 - $1,000,000
Interest 2.79 %
Maturity 1 - 30 years

Fast information

Properties of this loan

  • Online loans up to $1 000 000
  • Term 1 - 30 years

Loan requirements

  • Be over 18 years of age
  • Be a citizen or permanent resident of New Zealand

About company

More information about the company ANZ Bank New Zealand Limited

Borrow from $50,000 with interest from the 2.79 % Moread
$10,000,000
Loan amount $1,000 - $10,000,000
Interest 2.69 %
Maturity 6 months - 30 years

Fast information

Properties of this loan

  • Online loans up to $10 000 000
  • Term 6 months - 30 years

Loan requirements

  • Be over 18 years of age
  • Be a citizen or permanent resident of New Zealand

About company

More information about the company ASB Bank Limited

Borrow from $1,000 with interest from the 2.69 % Moread
$3,000,000
Loan amount $10,000 - $3,000,000
Interest 4.29 %
Maturity 1 - 30 years

Fast information

Properties of this loan

  • Online loans up to $3 000 000
  • Term 1 - 30 years

Loan requirements

  • Be over 18 years of age
  • Be a citizen or permanent resident of New Zealand

About company

More information about the company Kiwibank Limited

Borrow from $10,000 with interest from the 4.29 % Moread
$3,000,000
Loan amount $10,000 - $3,000,000
Interest 4.59 %
Maturity 6 months - 30 years

Fast information

Properties of this loan

  • Online loans up to $3 000 000
  • Term 6 months - 30 years

Loan requirements

  • Be over 18 years of age
  • Be a citizen or permanent resident of New Zealand

About company

More information about the company Westpac New Zealand Limited.

Borrow from $10,000 with interest from the 4.59 % Moread
$2,500,000
Loan amount $10,000 - $2,500,000
Interest 2.69 %
Maturity 6 months - 30 years

Fast information

Properties of this loan

  • Online loans up to $2 500 000
  • Term 6 months - 30 years

Loan requirements

  • Be over 18 years of age
  • Be a citizen or permanent resident of New Zealand

About company

More information about the company Bank of New Zealand

Borrow from $10,000 with interest from the 2.69 % Moread

        Low Deposit Home Loans in New Zealand

The magic number when talking about saving a deposit to buy a house is often 20%. A 20% deposit can save you from having to fork out for lender’s mortgage insurance (LMI) but there’s no reason why you can’t grab your own piece of paradise with a deposit of less than 20%.

What is LVR?

The Loan to Value ratio (LVR) is the amount of your loan compared to the value of the house you’re purchasing. LVR is calculated by dividing the amount of the loan by the value of your house. For example, if a property is $300,000 and you have a deposit of $60,000, the LVR is 80%. 80% has been the maximum LVR a bank is willing to accept in the past and so a 20% home deposit was required to purchase a home. This is no longer the case. 

What is the minimum deposit needed to buy a house?

Depending on the lender, the minimum deposit to purchase a home ranges between 5-10%.

In addition to having a 5% deposit to meet the First Home Loan eligibility criteria you must satisfy:

For further information, take a look at the eligibility criteria here.

Company - Rate as at 6/7/20 - Max LVR

What about LMI?

Lender’s Mortgage Insurance may be payable on LVRs of more than 80%. Meaning, if you have a deposit of lower than 20% of the property price, you may be required to pay for insurance to protect the lender in the event that you can no longer repay your mortgage. LMI can cost thousands of dollars for the insurance policy to protect your lender, but if it’s going to help you get your foot in the door of your own home, it just might be worth it. 


Low Deposit Home Loans in New Zealand rating: 4.5/5 from 237 votes.

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