First home loans

Simplicity now offers NZ’s lowest cost first home loans. Our 2.25% floating rate (with no early repayment fees) means you can get out of debt faster.

How it works

It’s simple. If you’ve;

- Been in KiwiSaver for at least 3 years, and;
- Been a Simplicity KiwiSaver member for at least a year, and;
- Are buying your first home;
You’ll be eligible to enter our monthly ballot.

If your name is drawn in the ballot and you meet the criteria, you'll have six months to find your first home. Please read our FAQ section below to see whether you meet the criteria. If you're not selected, you can put your name back into future monthly ballots until your name is drawn.

Important Home Loan Documents

Please read and/or download our Home Loan Terms and Conditions here.

For an example of our First Home Loan Agreement click here.

Simplicity uses mortgage Memorandum 2018/4346, which can be viewed here.


I earn $ per year before tax.
My deposit is $
My partner earns $ per year before tax.

Eligibility Criteria:
The property must be a freehold title, have an existing dwelling, comply with all local authority regulations and approvals, and be owned as joint tenants if more than one purchaser. At this time we're not accepting trusts or companies.
Guarantors are not permitted to provide security for the loan. We reserve the right to decline any applications at our discretion.

You could borrow up to $289,000

Your minimum monthly repayments would be $1,587

Based on our current first home floating interest rate of 2.25%p.a.

Time to repay 30 years

These are estimates only and are based on a principal plus interest mortgage of 30 years, at a floating interest rate of 2.25% per annum. The minimum monthly repayments include principal and interest. Because the loans are floating rate, Simplicity reserves the right to change the interest rate payable at anytime. However, any rise in interest rate payable will not come into effect until 3 months after the announcement date.


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