To apply for a Welcome Home Loan, you need to choose a participating lender and complete their loan application form. A list of lenders can be found on the lenders page of this website.
Each lender has their own credit criteria you will need to meet along with the Welcome Home Loan eligibility criteria. Follow the steps below which will guide you through the process.
Meet the criteria
Ensure you meet all the eligibility criteria set out on the "Am I eligible?" page.
Choose a lender
From our list of participating lenders on our lenders page
Get a 10% deposit
If you need help getting together a deposit there are options available
Complete lenders loan application
Although the government sets the WHL eligibility criteria, each lender has their own credit criteria that must be met.
You can either apply for a Welcome Home Loan pre-approval or a final approval. Applying for a pre-approval will allow you to confirm that you fit the eligibility criteria and the lender’s lending criteria. The lender will be able to advise you the amount that they are prepared to lend you. You can then look for a suitable property in that house price range. Once you have found a property, you return to the lender to gain a final loan approval.
Alternatively, if you have already found a property that you wish to purchase with a Welcome Home Loan, you could apply for a final approval. In this circumstance, the lender will assess that both your circumstances, and the property fit the loan requirements.
Below you will find some useful links in preparing to apply for a Welcome Home Loan and in owning your own home.
To find out how to use a Welcome Home Loan with KiwiSaver check out:
Buying your first home made easy with KiwiSaver and Welcome Home Loan