First Home Buyers | 95% Mortgages for High-Income Earners

Banks have started to relax credit criteria for homeFirst Home Subsidy buyers that have comparatively high household income.  The main driver is ongoing job stability and reasonably stable house prices in the major cities.

It is not a free-for-all.  The banks are targeting those of you with household salaried incomes over $100,000 with good job stability, no outstanding debts, and a genuine 5% saved deposit.  You also need to have a clean credit history.

The criteria vary significantly from lender to lender and low equity fees will apply. The low equity fees vary significantly from lender to lender. It’s our job to get you approved and make sure we get you the best possible deal.

At 95% these lenders are looking for strong ability to service your mortgage.  Typically that means you can borrow up to four times your income.

John Bolton profile
John Bolton

Chief Squirrel 027 247 7476

8 years ago, Squirrel’s founder JB realised that New Zealand house hunters needed help. As we all know, if you want something doing right, you have to do it yourself. He has since set about changing the game for buyers and Squirrel has written over $1.5bn of mortgages to date. When not embarking on one of his many ventures, JB can be found skiing dangerously or eating sashimi. He’s a member of the Professional Advisers Association and the Institute of Directors. And naturally, his favourite colour is orange.