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ASB Bank launches a new first-home loan in New Zealand, allowing buyers to put down just 5% and access cashback if they’ve saved in KiwiSaver for three years.
ASB Bank has launched the Kāinga Ora First Home Loan in New Zealand, enabling first-time buyers to purchase homes with just a 5% deposit instead of the usual 20%.
The loan targets those who can afford repayments but struggle to save for a large down payment.
Eligible applicants who’ve contributed to KiwiSaver for at least three years may withdraw their savings toward the purchase and qualify for ASB’s First Home Buyer cashback.
The bank provides specialized advice and support throughout the process, aiming to boost homeownership, financial wellbeing, and community stability.
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