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A home loan, or mortgage, is a loan to you by a financial institution to allow you to purchase a property. In return, they hold security over the property. Home loans have terms that could range up to 30 years and usually include regular, scheduled repayments.

You can choose to either take the loan out at a fixed or floating interest rate, or a combination of both.

Heartland Home Loans offer fixed rates for either one, two or three years. This means that the interest rate you will pay on your loan is set for the selected period. The benefit of fixed interest rate periods is that you will have set repayment amounts during that period. The disadvantage is that if the interest rate drops, you will continue to be locked in at this rate for the remainder of your fixed rate period. If you wish to repay your loan or make changes to your scheduled repayment amounts during a fixed rate period, you may be charged a fee. If you wish to do this, please get in touch to find out what fees and other amounts may be payable.

A floating rate means that the interest rate will rise and fall in line with market conditions over the period of your loan. The benefit of this is the flexibility to make extra payments without cost. Remember: a floating interest rate may rise or fall depending on market conditions which may increase or decrease your repayment amounts.

Heartland currently offers term home loans (or table loans) with floating or fixed interest rates. At this stage we do not offer a revolving credit facility for Heartland Home Loans.

The length of time (in other words, the “term” of the loan) you give yourself to pay off your loan will impact how much you pay. Having your loan over a longer term will give you more time to pay it off, but you could end up paying more in interest. If you can afford to pay more, it is best to have it over a shorter time frame.

Also, you need to ensure you are suitably placed to pay your loan for the term length you select. If you are planning to retire during the term of your loan, you will need to be able to either continue to make repayments or have funds available to repay your loan in full.

Getting my deposit ready

If you are purchasing your first home, you may be able to withdraw almost all of your KiwiSaver investment to help. For more information, please contact your KiwiSaver provider.
If you’re in KiwiSaver and have been contributing to a scheme for at least three years, you may be eligible for a First Home Grant. This means that the government could give you up to $5,000 towards an older, existing home, or up to $10,000 towards a newly built home or land to build a new home on. If borrowing with someone else, you can combine your grants, which means you could receive up to $20,000 if both of you have been contributing to KiwiSaver for at least five years. There are other eligibility criteria to meet, as well as regional house price caps. For more information, click here.


No, at this stage we are only lending to owner-occupiers.
No, at this stage we are only lending up to 80% of the value of a property.
No, at this stage we are only offering Heartland Home Loans for existing homes.
No, at this stage we are only offering Heartland Home Loans to joint or individual personal applicants.
We have a limited availability of Heartland Home Loans at this time. We have therefore put in place certain criteria that all applicants must meet. If you don’t meet these, you can always come back to us in the future as we may adjust these.
For you to be eligible for a Heartland Home Loan you also need your income paid into a YouChoose Account. A YouChoose account is a transactional account with unlimited transactions and no set-up or monthly fees. If you don’t have a YouChoose account we can help you open one during the application process.

The application process

With an online application, you can save time by applying when and where you choose. There’s no need to spend time arranging appointments with mortgage managers or to go into a bank branch.
No, at this stage we do not offer a cash contribution or a cash back offer.
No, we have designed the application process for Heartland Home Loans to be a simple, online process that you can complete yourself. Once you have completed the application process and received a conditional approval, we’ll then be in touch via email or telephone in relation to next steps and to confirm the loan structure to ensure it meets your needs. If you have any further questions, you can contact us.
Yes! Our YouChoose account is designed so you can manage your money the way you choose. There are no setup or monthly fees and we will supply you with an EFTPOS card. Click here for more information on our YouChoose account.
Yes, you can have both fixed and floating interest rates with a Heartland Home Loan. You can decide to split your loan across multiple options of fixed and floating rates. In other words, you can split your loan into smaller portions that have different interest rates (i.e. a floating interest rate or fixed interest rate). This means that you could take advantage of payment certainty with a fixed interest rate portion of your loan while giving yourself the ability to make lump sum payments on another portion with a variable interest rate. As part of the process we will communicate with you about how you want your loan structured.
Conditional approval means it looks like you meet our lending criteria based on the information you entered online. To be fully approved, we need to verify what you have told us with your supporting documentation, conduct any further checks, confirm the loan structure with you and whether it meets your needs. Any full approval will be subject to Heartland’s lending criteria, terms and conditions.

Heartland Home Loans

No, at this stage we do not offer a revolving credit facility for Heartland Home Loans.
Applying for a home loan isn’t always straight forward. That’s why we designed Heartland Home Loans with a simple, online application. With great rates and flexible repayment frequencies, we’re here to help you get your dream home sorted, so you can get back to what really matters to you. Welcome to doing things differently. Get to know Heartland Bank a little better.
At the end of your fixed rate term, the loan will revert to our floating rate. You can choose to renegotiate a further fixed term at the rates applicable at the time.
No, you will not automatically be moved across to a Heartland Home Loan. However, anyone who meets our eligibility requirements is welcome to apply, including our customers with an existing home loan. To find out more about home loans that were drawn down prior to 2020, please click here.


Yes, you can pay your loan back early by paying the full prepayment amount.

You can also repay some of your loan at any time. However, any part prepayment must not be less than any minimum prepayment amount we specify in the loan agreement (currently being $100 for a floating interest rate or $1,000 for a fixed rate loan portion). We may also charge you an administrative fee and, if a loan portion with a fixed rate is being repaid, an amount equal to the reasonable estimate of our loss arising from the part prepayment (if any).

If you want to do this, please contact us so that we can check what fees and other amounts may be payable. This may include an administrative fee and an amount to cover our loss arising from you repaying some or all of your loan early.

We understand that circumstances out of your control may impact your ability to make your repayments. This could include illness, injury, loss of employment, the end of a relationship, or other reasonable cause. In any of these cases, you can apply for a Hardship Variation. You can find out more and apply here.
There are serious consequences if you do not meet your loan commitments. Under the loan agreement, you agree to pay all amounts owed to us now and in the future. If you are unable to make your repayments, we may sell the property and use the proceeds to repay any amounts owing. If this does not cover the amount owing, you will still owe us the outstanding amount.