Getting home loan pre-approval

In addition to meeting the Kāinga Ora eligibility for First Home Partner, you will also need to satisfy the lending criteria of a participating bank in order for them to provide you with a home loan. Having a pre-approved home loan lets you understand your potential buying power and the amount you may be able to borrow up to. This will help:

• give you a price range you can consider for purchasing a home
• show sellers and real estate agents that you’re serious about making a home purchase
• speed up the process for getting full loan approval when you’ve found a home you want to buy

All banks and lenders have slightly different lending criteria, but information they will ask for can include:

• your Kāinga Ora First Home Partner eligibility confirmation letter
• your employment details
• your annual income and value of assets you own
• the amount you can contibute to a deposit
• your current debt, liabilities and household expenses (e.g. credit card, hire purchase, etc.)
• details of the type of home you're looking to purchase.

A home loan pre-approval will typically expire after a set period (e.g., three months). If your financial situation changes you should speak with your chosen bank to update your circumstances with a view to having your pre-approval reissued.

Participating banks  

www.westpac.co.nz(external link)
Call Free: 0800 177 277

www.bnz.co.nz(external link)
Call Free: 0800 275 269

www.kiwibank.co.nz(external link)
Call Free: 0800 000 654
Contact us(external link)

www.sbsbank.co.nz(external link)
Call Free: 0800 727 2265