Prospective first home buyers are being warned a 95 percent loan might not be enough to score them their own place.
ASB says it'll take as little as a $25,000 deposit for KiwiBuild homes.
But First Home Buyers Club spokeswoman Lesley Harris says the criteria will still be strict.
"If they don't have the income to support the lending, that's not going to make any difference," she told Newshub.
Mr Harris wants buyers to understand they still need to pay the full amount back, and the offer's not a silver bullet that will fix New Zealand's declining home ownership rate.
"People have got to really, really work on being prepared - getting their ducks in a row, getting their lending down, making sure they're actually ready to take advantage of these offers."
Ms Harris expects the bank will tighten its lending criteria to ensure it doesn't get burned.
ASB's deposit minimums
- $500,000 home - $25,000
- $600,000 two-bedroom home - $30,000
- $650,000 three-bedroom home - $32,500