Most first home buyers are back with low deposits and record-high debt, often borrowing with less than 20% deposit.

Luke and Mikey break down the reality: people are stretching themselves thin with low equity loans that cost more in interest. We cover why you need to understand the true cost (not just the mortgage payment), the risks of buying with minimal deposit, and what happens when house prices drop while you're over leveraged.

Don't let FOMO drive the biggest financial decision of your life. Understand what you're signing up for first.

Find Mikey:

https://guardiansmith.co.nz/

https://instagram.com/officialmikeysmith

Amy from http://Levridge.co.nz has come on as a sponsor of Keep The Change to help people with their financial planning.

Stuck? Find Amy : [email protected]

Instagram: https://www.instagram.com/amy.levridge

Website: https://www.levridge.co.nz

Generate are supporting my vision to improve the financial literacy of 100,000 kiwis by sponsoring Keep The Change. Cheers Generate. Head to https://www.generatewealth.co.nz/change/ to find out more.

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