Calculate how much you could borrow
Can you afford your dream home?
Click here
to find out if you can afford that house you're already
eyeing up.
Can you afford the repayments?
Click here
to
work out if you can afford the home loan repayments.
Calculate your rent as mortgage payments
Click here
for
the calculator.
How much could I borrow?
As buying a home is a long-term commitment, it's
important to consider future lifestyle changes.
The deposit you will need to buy a home will depend on a variety of
factors including your financial situation and the value and
location of the home. This money could come from either
equity you already have in a home, from a deposit you have saved,
or from being in KiwiSaver.
Click here
for
more information
It's a good idea to see your banker before you find the perfect
house.
Do I need the full 20%?
If your application is strong, you may not need a full
20% deposit. It's a matter of talking to the bank and finding out
what options are available to you.
Remember, the more you can put towards your home the smaller your
loan will be.
Click here
to
contact a Westpac Mobile Mortgage Manager.
The top three tips to help you prepare for buying your
first home:
- Start a budget. Click here for the TMS guide to budgeting
- Save your repayments. Find out if you can afford the repayments by transferring the money into your savings account each month.
- Work out what you can afford.
Here's a quick way to work out how much you may be able to
afford for home loan payments.
Take a third of your current income. Take off any money
you're paying for debts* now. This will give you a rough
indication of the amount you may be able to afford.
(*Include all debt payments including hire purchase, car loans and
credit card payments).
The TMS guide to buying your first home
Downloads to take to open
homes
How do I apply for a home loan?
What's involved in...
...the purchase process?
...the lending process?
Why do I need a lawyer and
insurance?
More info on Westpac's Choices home
loan
The content of Talking Money Sense is general in nature, is
designed for information purposes only and is not intended to
constitute financial or other advice. Information is subject to
change. Terms, conditions, fees and charges apply to Westpac
products and services. See
www.westpac.co.nz or call into your nearest
Westpac branch for details. You can get a copy of the current
disclosure statement for Westpac New Zealand Limited from any
Westpac branch in New Zealand free of charge. Westpac New Zealand
Limited.
