Buying 

Tips 

 

& 

Home 

Loans

Purchasing your first home is one of the most significant milestones in life. It’s not just a financial decision — it’s also about your lifestyle, your future, and your family. Our goal is to make the process clear, confident, and stress-free.

Buying for the first time can feel overwhelming — not just because of the price, but because there are many moving parts. At Limitless Real Estate, we work closely alongside trusted mortgage advisors so that you have support every step of the way.

• What you can realistically afford
• How much you can comfortably repay
• What your lending options look like across different banks

Your mortgage adviser can also help structure your home loan so you’re ready to act when you find the right property.

Most banks ideally look for a 20% deposit when purchasing a home you intend to live in.

 

Example:

If the property price is $500,000, a 20% deposit would be $100,000.

If you haven’t reached 20% yet — you still have options.

Some lenders will help you buy with as little as 5% down, but this may involve:

• Low Equity Margin (LEM): An additional percentage added to your interest rate, usually 0.25% – 1.5% per year
• Or Lender’s Mortgage Insurance (LMI): A cost that protects the lender when more than 80% of the home is being financed

Your adviser will help determine which option is best for your circumstances.

Each bank has different lending criteria. Your adviser can calculate your borrowing capacity across multiple lenders instantly so you can compare options and understand your maximum purchasing power.

Deposit Source	How It Works
Savings or Shares	Shows consistent financial discipline to lenders.
KiwiSaver	If you’ve contributed for at least 3 years, you may withdraw funds for your first home (must be owner-occupied).
Family Guarantee	A parent may use part of their property as security — either full or partial guarantee.
Gifted Funds	Money gifted from parents/family. A gifting letter confirming it is not a loan is usually required.

You may also need funds for:

• Legal fees
• Building inspections
• LIM report
• Valuations (required for deposits under 20%)

Many lenders do offer cash incentives at settlement, which may help offset some of these costs.

A pre-approval confirms how much a lender is willing to lend (subject to property checks).

It:

• Helps you set a clear buying budget
• Strengthens your position when making offers
• Usually lasts for around 90 days and can be extended

Some banks require a Live Deal instead of a pre-approval — meaning they assess lending only after you have a specific property under contract. Your adviser will guide you if this applies.

• A 20%+ deposit may unlock special interest rates and better cash incentives.
• A valuation may be required if your deposit is under 20%.
• Review the Further Terms of Sale section for any special conditions (e.g., unconsented works).

You will need property insurance confirmed before settlement.

Your experience should feel exciting — not confusing.

We’ll help you:

1. Understand your needs & lifestyle goals
2. Confirm your budget and lending options
3. Search efficiently for suitable properties
4. Compare recent sales and market value
5. Navigate the offer, auction, and negotiation process
6. Complete due diligence (LIM, builders report, valuation, etc.)

We will:

• Provide comparable sales evidence
• Liaise with your solicitor
• Guide you through the Sale & Purchase Agreement
• Assist with pre-settlement inspections
• Ensure the handover is smooth and stress-free

Once settlement is complete — the keys are yours.

Book a conversation with us — no obligation.

We’ll walk you through your options and answer your questions in plain language.

Big Support. Smart Decisions. Confident Ownership.