Home Loans FAQs

If you’re in the market for a new home, Canstar has the answers to all the frequently asked questions:

Contents:

Considering a home loan


Is it better to rent or buy?


What is a mortgage?


What First Home Buyer grants and incentives are on offer?


I’m self-employed/a contractor – will I be able to get a home loan?


Can you save more money in a term deposit or an on-call account?

Saving for a deposit


Can I buy a house with no deposit?


Can I buy a house with less than a 20% deposit?


What can count towards a deposit?


How can I use KiwiSaver to buy a first home?


How much can I borrow?


How much should I borrow?


What are the hidden costs of buying a home?


Can I get a home loan on a single income?


What is the Low Equity Premium?


Home Loans MSC SR Page

Types of home loans


What types of mortgages are there?


What type of home loan is best for a first home buyer?


Is fixed or variable better?


What is a fixed rate home loan?


What is a variable rate home loan?


What is a split loan?


What is an interest only loan?


What is a line of credit home loan?


Can I get a family guarantee on my home loan?


What is a mortgage broker and should I use one?


What is a bridging loan?


Home loan features to consider


What is an offset account?


What is a redraw facility?


What is mortgage protection insurance?


ASB wins first-ever Bank of the Year – Home Loans Award

Looking for a home


When is the best time of year to buy a home?


What are the risks of buying off the plan?


I want to buy a first home. What do I need to do?


How can I do my own research on the property market? 


How long does it take to find a house to buy?


How do I negotiate the price when buying a home?


What are the pros and cons of apartment living?


What do I need to know when buying a unit?


Duplex living – is it right for me?


What are the pros and cons of owning a house with land in the country?


Do I need to pay for a property inspection?


Buying a house vs building a house: which is better?


Should I buy a fixer-upper?


How do I buy a home at auction?


What is an auction clearance rate?


Buying at auction or private treaty: what are the pros and cons?


How much does it cost to build a house in NZ?


How do I avoid paying too much for a home?


Can I back out of a house sale once I’ve signed the contract?


Applying for a home loan


How do I apply for a mortgage?


Should I get home loan pre-approval before looking for a house?


How can I improve my chances of being approved?


Will personal loan debt affect my chances of buying a first home?


Will I be able to get a mortgage for a tiny home?


Am I too old for a home loan?


How much do home loans cost?


How much will my home loan cost?


What fees are charged on a home loan?


How can I save on my home loan interest?


How will an interest rate change affect my repayments?


What is Lenders’ Mortgage Insurance and how does it work?


How much will it cost me if I break my mortgage?


Weekly or monthly mortgage repayments: which pays off your mortgage faster?


Investment Property

Property investing


What should I look for when buying an investment property?


What are the pros and cons of buying an investment property?


Do I need to use the services of a property manager?


What do I look for when choosing a property manager?


How do I find the right tenant for my rental property?


Is a holiday home a good investment?


What is negative gearing?


How can I access the equity in my home to buy an investment property?


Canstar is here to help

If you are considering buying a home, it pays to keep on top of the current interest rates in the market. And Canstar is here to help. Below is a snapshot of the current low deposit home loans on offer on the Canstar database, sorted by the maximum loan to value ratio of each loan (highest to lowest).

Please note that this table is generated based on a loan amount of $350,000 in Auckland for a first home buyer. If you’re interested in comparing further, just click on the button at the bottom of the page.

Compare first home loan rates for free with Canstar!

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