How Vinnie Helped John Buy His First Home With Just a 5% Deposit

Buying your first home can feel out of reach, especially when you don’t have a large deposit saved. But with the right advice and the right structure, it’s more achievable than many people think.

Recently, our adviser Vinnie worked with John*, a first-home buyer introduced through a mutual connection, whose story perfectly illustrates what the right guidance can do.

The Challenge: A 5% Deposit and a Dream Home

John* had found a property that ticked all the boxes – the location, the layout, and the price. But there was one big challenge: he only had a 5% deposit.

Like many first-home buyers, John* went directly to his bank to see what was possible. Unfortunately, the bank wasn’t able to help. Despite steady employment and a solid savings history, his low deposit meant he didn’t meet the standard lending criteria.

That’s when he was introduced to Vinnie from The Mortgage Hub.

The Solution: Listening First, Then Finding the Right Fit

Vinnie took the time to understand John*’s situation – his income, his goals, and his vision of home ownership.

With an annual income of $85,000, Vinnie knew John was in a good position; he just needed access to the right product.

After assessing the options, Vinnie introduced him to the First Home Loan, supported by Kāinga Ora. This programme is designed for eligible first-home buyers who have a small deposit but meet key income and property criteria.

With the right structure in place, John* was approved for a $665,000 home loan, and officially became a homeowner.

The Outcome: Paying Less to Own Than to Rent

John*’s new repayments are around $850 per week – only $60 more than the $790 per week he was already paying in rent.

The difference? Now, that money is going towards his own home, not someone else’s mortgage.

As John* put it: “I’d rather pay my own mortgage than someone else’s.”

Not only has John* secured a place to call his own, but he’s also now building equity in a property that will likely grow in value over time – setting up his financial foundation for the future.

Why This Matters

John*’s story isn’t unique – it’s the story of many hardworking Kiwis who think home ownership is out of reach.

But with the right advice, a tailored approach, and support through initiatives like Kāinga Ora’s First Home Loan, that first step can be closer than you think.

At The Mortgage Hub, we’re here to make that journey simpler, clearer, and more achievable — one homeowner at a time.

Thinking about buying your first home?

Our advice is free, and a conversation could be the first step toward your own success story.

Send us a message or visit www.themortgagehub.co.nz to learn more.

Watch this video to hear directly from Vinnie about John*’s journey and how smart financial advice can turn home ownership dreams into reality.

*Name changed for privacy reasons