First Home Loan

Gets you on the property ladder sooner, without having to wait until you have saved a large deposit.

Getting a deposit together can be the hardest part of buying your first home.

You may be able to do it with a 5% deposit through Kāinga Ora - Homes and Communities (formally Housing New Zealand).

You can borrow up to 95% of property value.
To be eligible you must have an individual income of less than $95,000 or a combined income of less that $150,000.
This loan is only available for owner-occupied homes, and must be the only property you own.
0.50% Kāinga Ora (formerly HNZC) mortgage insurance premium* and loan application fees may apply.
*From 1 July 2025, the insurance premium for new First Home Loan borrowers increases from 0.5% to 1.2% of the loan amount.

If you are interested in a First Home Loan discuss your requirements with our lending specialists.

Are you eligible? First Home Loan eligibility criteria as well as NBS' lending terms and conditions apply.
How to apply. Have a look at the quick guide to find out how you apply for a First Home Loan.

Further information from Kāinga Ora can be found below.

NBS Home Loan Rates
6 Months Fixed	5.74% p.a.
1 Year Fixed	4.99% p.a.
2 Year Fixed	4.93% p.a.
Variable*	6.94% p.a.
NBS Flexi Loan variable interest rate*	7.04% p.a.
Interest rates are current as of 3 June 2025 and subject to change at any time without notice. NBS General Terms and Conditions, general lending terms and criteria and fees apply. NBS home loan rates are available for residential owner-occupied or investment property loans only. * Effective rate for new clients Tuesday 3 June 2025. Effective rate for existing flexi and variable loan clients from Monday 14 July.

Kāinga Ora First Home Loan Fees
Loan Establishment Fee	From $450.00
Lenders Mortgage Insurance Premium	0.50% of the loan amount
Interest Rate Review	$50.00
Discharge Mortgage Fee	$50.00
Default Interest Rate	4.00% p.a. above annual interest rate
Default Administration Fee	$45.00 per event
Insurance Arrears Payment Fee	$25.00
Rates Arrears Payment Fee	$25.00
Motor Vehicle Security Variation/Security Swap Fee	$30.00
Duplicate Statement Fee	$5.00
Early Repayment Recovery Amount (ERRA)	P.O.A
Early Repayment Administration Cost	$45.00
Fees are subject to change.

NBS Residential Term, Residential Redraw, NBS Interest Only
Loan Establishment Fee	From $450.00
Loan Additional Funds	$250.00
Interest Rate Review	$50.00
Discharge Mortgage Fee	$50.00
Default Interest Rate	4.00% p.a. above annual interest rate
Default Administration Fee	$45.00 per event
Insurance Arrears Payment Fee	$25.00
Rates Arrears Payment Fee	$25.00
Motor Vehicle Security Variation/Security Swap Fee	$30.00
Duplicate Statement Fee	$5.00
Early Repayment Recovery Amount (ERRA)	P.O.A
Early Repayment Administration Cost	$45.00
Fees are subject to change.

Terms and Conditions

First Home Loan eligibility applies. NBS’ current Loan Agreement Specific Terms and General Lending Terms are available free of charge from any NBS branch.

NBS lending criteria and the above terms apply. You will also need to have an NBS loan deduction account.