NZ home loan borrowing facts
Single facts about borrowing for a home in New Zealand, each with its figure, date and source. Free to quote with a link.
NZ banks test home loan affordability at ANZ 6.85%, ASB 6.85%, BNZ 7.10%, Kiwibank 6.95% and Westpac 6.95%, as confirmed on 13 July 2026.
Source: interest.co.nz, 13 July 2026
There is no regulated serviceability test rate in New Zealand; each bank sets its own.
Source: interest.co.nz home loan test rates, accessed 10 November 2026
Since 1 July 2024, banks may make only 20% of new owner-occupier lending at a debt-to-income ratio above 6.
Source: Kiwibank, Understanding debt-to-income ratios, accessed 10 November 2026
Banks may make only 20% of new investor lending at a debt-to-income ratio above 7.
Source: interest.co.nz, 14 August 2026
For DTI, debt includes the full limits of credit cards and overdrafts and student loans, and income is gross, including rental income.
Source: Kiwibank, Understanding debt-to-income ratios, accessed 10 November 2026
$500,000 of debt on an $80,000 income is a debt-to-income ratio of 6.25.
Source: Kiwibank, Understanding debt-to-income ratios, accessed 10 November 2026
Since 1 December 2025, up to 25% of new owner-occupier lending may have a deposit under 20%, up from 20%.
Since 1 December 2025, up to 10% of new investor lending may have a deposit under 30%, up from 5%.
The Reserve Bank kept its LVR and DTI settings unchanged at its August 2026 review.
Source: interest.co.nz, 14 August 2026
A Kāinga Ora First Home Loan reduces the deposit to 5% for eligible first home buyers.
First Home Loan income caps are $95,000 for one buyer without dependants, $150,000 for one buyer with dependants and $150,000 combined for two or more buyers.
Source: Kiwibank, First Home Loan, accessed 10 November 2026
The First Home Loan premium is 1.2% of the loan for applications received by lenders after 1 July 2025, up from 0.5%.
Source: Kāinga Ora, First Home Loan insurance premium FAQ, 22 May 2025
Kiwibank passes on a First Home Loan fee of 1.00% of the loan amount, which can be added to the loan.
Source: Kiwibank, First Home Loan, accessed 10 November 2026
ASB joined the First Home Loan scheme in February 2026; ANZ and BNZ are not lenders for it.
Source: RNZ, 18 February 2026
A KiwiSaver first-home withdrawal needs at least 3 years of membership and must leave $1,000 in the account.
The First Home Grant closed to new applications on 22 May 2024.
Source: RNZ, 22 May 2024
Kiwibank says the First Home Partner scheme is fully subscribed and Kāinga Ora is not accepting new applications.
Source: Kiwibank, First Home Partner, accessed 10 November 2026
Published low equity premiums for a loan of 85.01% to 90% of the price were 0.75% a year at ASB, BNZ and Westpac (UNVERIFIED, one source).
Source: Canstar, rates at 24 June 2026
Conveyancing for a purchase often costs between $1,400 and $2,500, plus GST and disbursements (UNVERIFIED, one source).
Source: Tremains, 16 June 2026
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