Your ability to get a mortgage depends on many factors, including the amount you wish to borrow and the relative size of your deposit, along with your credit history. Some additional factors to consider include your employment status and income, credit rating, expenses, dependent children, and existing debt.

Before applying for a mortgage, you may want to work out your budget to get an idea of how much you can borrow. Ensure you can cover your deposit and monthly repayments, with enough to spare for any associated fees.

You may need to reduce any existing debts and you’ll also want to understand your credit score. You can get your score from your credit report. You’re entitled to one free copy from each of New Zealand’s principal credit reference agencies.

Lenders will often have widely varying policies about their lending criteria, credit history, and how much they will lend. Before you apply for a mortgage, it’s a good idea to know your ability to borrow. If not, a failed application could lower your credit score and negatively affect your future options.

EverBright Finance can help you get an eligibility check if you are a first time buyer, if you’re climbing the property ladder by changing homes, if you’re in the market for an investment property, or if you just want to re-mortgage. We match your information with the affordability and eligibility criteria of the lenders who we work with on our panel. Then, each lender will return a unique result on their willingness to lend to you.

Please note that this service is not advice and does not examine whether a mortgage is suitable for your needs. Eligibility results from lenders are indicative only and may change if you choose to apply for a mortgage.