This is where we gather information about your financial position, your income, employment history, and any debts or assets you may have and find out where you are at financially and where you want to be.
Buying your first home just got easier
Buying your first home is one of the most exciting yet most daunting moments of your life.
On one hand, imagining a new kitchen here and a treehouse for the kids out there is exciting for people looking to settle down or get on the property ladder. On the other, navigating house deposits, first home KiwiSaver withdrawals, valuations, and applying for a loan can be daunting, particularly if you don’t feel financially savvy.
Threefold understands how intimidating it can be to secure finance in a chaotic housing market. Our mortgage advisers also understand how emotionally invested first home buyers can be when they’re hunting for their first home, and how complicated some financial frameworks might need to be to get a mortgage over the line. Self-employed, freelance, family trust, gifted deposits, multiple people buying together … We proudly customise our services to every first home buyer looking for a home loan, because every situation is different.
Buying property, especially if it’s your first home, can be stressful. But that’s why Threefold is here: to guide you through the process, explain complicated financial terminology in layman’s terms, submit your loan application to the right bank, and ultimately help you sign on the dotted line. In a nutshell, we look after everything to do with money, so you can focus on finding a home that ticks all your boxes.
Our experienced mortgage advisers inherently understand what’s going on in the market, how each bank works, and how to create a home loan application for you that’s likely to be successful. We work alongside our clients from beginning to end of the application process, so you can spend more time browsing real estate websites and visiting open homes. We can also connect you with professionals like accountants and lawyers to streamline the other pieces of the puzzle too.
If you’re using KiwiSaver to buy a house, we can help you every step of the way. We have helped many KiwiSaver first home buyers secure a home loan and get on the property ladder. We have experience in helping secure KiwiSaver first home grants too, which make it much easier for first home buyers to secure finance for their property investment.
Buying your first home probably won’t be the last time we see you though. Threefold proudly works alongside clients as they buy their first home, renegotiate terms and rates, sell up and size up, build an investment portfolio, and, further down the track, downsize. You’ll build up a great relationship with the same adviser (you won’t get passed from one person to another) which means life will be much easier when it comes to refinancing or buying again.
Buying your first home doesn’t have to be stressful. For thorough, all-inclusive support, let the Threefold team help you get your foot on the property ladder today.
We work with New Zealand's leading lenders to find the right mortgage for you
At their most competitive rates, without you needing to shop around.
Process For First Home Buyers
We reach out to various lenders on your behalf to obtain approval up to a certain sum of money, based on certain conditions. We will determine what you can borrow based on all the information you provided to us at the initial consultation meeting.
Now the fun begins, you can spend your weekends looking for your first home in the knowledge that you have pre-approval and can confidently make an offer.
Once your offer is accepted, we will discuss:
- Loan Structure
What type of loan you want and how you want to pay it back. We can help talk through your options for loan type, fixed and/or floating interest rate and design your home loan with you.
Help you with ensuring you have all appropriate insurances in place to cover you and your new home.
All mortgage documentation will be sent to your Solicitor for signing ready for your settlement date (purchase date).
Celebrate and move in! Woohoo you’ve bought your first home!
The first thing you need to do is have money to put toward buying your new home. This is called the deposit (your cash contribution). The amount of the deposit you will need is generally between 5-20% of the purchase price of the home (eg: if the purchase price for a home is $750,000 a 5% deposit would be $37,500). The deposit amount you will need can vary between lenders and depends on your situation as well as the location and type of property you intend to buy. You can use money from your savings or a gift from a family member for your deposit. Note: If you are contributing a 5% deposit, you will need to show the lender you have saved this money and that it is not a gift.
The amount you can borrow depends on how much you can afford to repay and how much a lender will lend on a property. Lenders have different methods they use to work this out. Our calculator on our website can give you a general idea of how much you can borrow (link to calculator). However, it’s better to have a chat with our Mortgage Advisers to get a more precise indication for your personal circumstances.
Potentially yes. Talk with us and we’ll help you determine the best options for your situation.