Have you been regularly contributing to your KiwiSaver for three or more years and have haven’t owned a home? If so, you’re likely eligible to withdraw most of your savings to put toward your first home deposit. In most cases, you can withdraw everything except for $1,000, which must remain in your KiwiSaver account.
Even if you have previously owned a home, you may still be eligible under the KiwiSaver Second Chance if you’re now in a similar financial position to a first home buyer and haven’t used your KiwiSaver before. Your provider can confirm whether you meet the criteria.
It’s also important to note that there’s no maximum income or purchase price limit when using your KiwiSaver withdrawal toward a home deposit.
First Home Loans are offered by selected New Zealand banks and lenders, and are underwritten by Kāinga Ora. Because of this support, lenders can offer home loans that may not usually meet standard lending criteria.
In many cases, this means eligible buyers can purchase a home with as little as a 5% deposit, compared to the more typical 10–20% required.
Since 2014, our team has been helping Kiwis navigate the home loan process with confidence. Together, we bring over 150 years of combined experience across the financial industry, with each adviser having at least a decade of experience and a deep understanding of New Zealand’s ever-changing lending landscape.
We’ve helped hundreds of people into their first home and take pride in building long-term relationships through honest, down-to-earth advice. Our focus is on making the process as smooth as possible, while tailoring home loan solutions to suit your individual needs, whether you’re buying your first home, next home, or investing.
With strong relationships across more than 20 of New Zealand’s leading lenders, we have the flexibility to access a wide range of options and secure competitive rates and terms that work for you.
To arrange a free, no-obligation chat about your home loan needs, get in touch with one of our friendly and professional mortgage advisers today.
The deposit required for your first home can vary depending on the property, your financial position, and current Reserve Bank of New Zealand lending guidelines. While a 20% deposit is often considered ideal, many buyers are able to get into their first home with significantly less.
In some cases, eligible buyers can secure a home with as little as a 5% deposit, making home ownership more accessible than many people expect. The key is understanding what options are available and how to position your application correctly.
Our team specialises in low-deposit lending and will guide you through the process, helping you explore the best approach for your situation and giving you a clear path toward getting into your first home.
The best New Zealand bank for first home buyers depends on your specific financial position and loan requirements. Take the time to research the home loan offers and rates from all the major lenders, or to talk to a registered mortgage adviser to help find a loan that’s right for you.
A 20% minimum deposit is often quoted as being required to purchase a home, but the minimum deposit required for a first home in New Zealand is 10% for an existing property and in some cases 5% for a new build.
The amount of money you can receive from the First Home Grant scheme depends on several factors. These include whether you’re buying by yourself or with others, whether you have dependants, how much money you earn each year and whether you’re purchasing a new or existing property.
Whether you’re looking for expert mortgage advice to get you into your first home, or you’re upgrading, refinancing or looking for an investment property, our experienced team can help find the right solution for you.
