How to Qualify
There are two ways in which you can borrow for your first home with SBS Bank;
1) With a First Home Loan Supported by Kāinga Ora (please see below for their criteria)
2) If you don't qualify for a First Home Loan you can apply for a standard SBS Residential home loan (please see below for our criteria)
To access any of these benefits under the offer you:
- Need to be a first home buyer (or a person in the equivalent position of a first home buyer);
- Will need to be acquiring either an existing home, new build or undertaking construction;
- Will need to occupy the property you are purchasing;
- Will not be able to own any additional property;
- Will need to have a minimum of 5% equity in the property for First Home Loans or 20% equity for Residential Lending;
- Qualify for a First Home Loan or Residential Lending with SBS Bank.
- Will need to have your loan application approved and have received a Letter of Offer
- Will need to have your loan drawn within 90 days of our approval of your loan application
If your lending meets the above qualification criteria, you just need to select the benefits you would like to take up and meet any applicable additional eligibility criteria that for those benefits.
The information on this page is a summary of the key terms of our FirstHome Combo. For our full FirstHome Combo Terms and Conditions please click here.