Our Home Equity programme helps people who never thought they’d ever own their home do just that.  It’s a way of getting you into a new home, and helping you manage your finances so you can afford to buy it.

Here’s the challenge you might be facing:

• You have no deposit for a house. Making it even harder, you may have credit card and other debts. 
• You don’t have any spare cash—too many weeks in the month!
• Your income or credit history means banks are not keen to give you a mortgage.
• You desperately want your own home, but have no way of making it a reality.
• To you, renting feels like money down the drain.

Here’s how Home Equity could help you:

• You occupy a new home built by New Zealand Housing Foundation, paying the equivalent of market rent.
• Over a five-year period the Housing Foundation provides financial planning support so that you can clear your debts.
• Let’s assume your property increases in value.  You’ll get 75% of this increase to use as a deposit to buy your home.
• After five years, instead of paying rent, you will probably have have similar-sized mortgage payments – but now you’re buying your own home.

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