welcome home loan low deposit home loan

Welcome Home Loan: Get A Low Deposit Home Loan

Buying your first home? Struggling with the 20% minimum deposit? Need a low deposit home loan?

If the minimum 20% deposit is holding you back from purchasing your first home, then a low deposit Welcome Home Loan could be the solution.

What is a Welcome Home Loan?

A Welcome Home Loan makes is easier for you to own your own home. That’s because it only requires you to have a 10% home loan deposit instead of the 20% deposit required by most lenders.

This low deposit home loan, which is supported by Housing New Zealand, is available from selected banks and credit unions. welcome home loan logo

These include:

  • Kiwibank
  • Westpack
  • TSB Bank
  • The Cooperative Bank
  • SBS Bank


welcome home loans - how much can i borrow

Am I eligible for a Low Deposit Home Loan?

If you’re in a position to make your monthly mortgage repayments, you’ll also need to tick a few other boxes before you can take advantage of a Welcome Home Loan.

Loan Limits:

Depending where you’re looking to buy, you’ll be subject to different maximum amounts you can borrow based on the region;s house price cap. The maximum loan for each region is the house price cap less your 10 percent deposit.

The house price caps are:

  • Auckland – $600,000 (existing) or $650,000 (newly built)
  • Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Nelson City, Tasman District, Waimakariri District, Christchurch City, Selwyn District, Queenstown Lakes District –$500,000 (existing) or $550,000 (newly built)
  • Rest of New Zealand – $400,000 (existing) or $450,000 (newly built)

Maximum Income:

If you are the sole borrower your combined household income over the past year must have been $85,000 or less (before tax) to be eligible for a Welcome Home Loan.

Alternatively, if you’re partnering with one or more other borrowers, you can have a combined household income up to $130,000 (before tax) for your house purchase.

Next Steps….

Need a Welcome Home Loan? Then schedule in a free, no obligations consultation with one of our friendly mortgage advisers. We’ll answer any of your questions and help you determine if you’re eligible for a Welcome Home Loan and how to go about applying for it.

Click Here To Claim A Free Mortgage Consultation >>>

About Us:

With years of experience helping people like you, along with our background in the banking and debt consolidation industry, we’re in the best position to provide you with advice you can trust.  In a matter of minutes we’ll answer all your questions and point you in the right direction – saving you time, money and a whole lot of stress.

Jeff Elias - Mortgage brokers wellingtonJeff Elias is a registered financial adviser. He worked previously as a mortgage debt reduction specialist and has an intimate knowledge of mortgages. He likes to look for creative solutions where required and enjoys showing people how to structure and pay their mortgage off quickly. Jeff is a father of four and enjoys tennis and walking his dogs.


Wiremu Patrick really enjoys working with people and helping them get to where they want to be. If its a first home, an upgrade or ensuring people are structuring their mortgage correctly, he wants to be your financial adviser for life. Away from the office, his wife Rebecca, young son (Taimana) and bulldog (Bentley) keep him on his toes.


Wellington Mortgage BrokerBrodie Sadgrove is a registered financial adviser & a chartered accountant who has over 20 years of Corporate financial industry experience. He likes to look at the customers current goals and solution a mortgage structure that suits both their wants, along with ensuring that their current lifestyle can service their proposed lending. Brodie is a father of three and enjoys rugby, tennis and spending time with his children.

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