Buying guide
Everything you need to know about home loan deposits in New Zealand
Your straightforward guide to home loan deposits in Aotearoa.
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AI summary
Understanding your home loan deposit is a crucial first step to buying property in New Zealand. Lenders typically require a 20% deposit, which demonstrates your financial discipline and reduces their risk, potentially securing you better loan terms.
First-home buyers have several pathways to build their deposit. You may be eligible to withdraw funds from your KiwiSaver after three years of membership. The First Home Loan scheme also supports eligible buyers, allowing a purchase with a minimum 5% deposit.
What you'll learn
How much deposit is needed to buy a house in NZ?
| Region | Average asking price | Deposit needed (20%) | |||
|---|---|---|---|---|---|
| Auckland | Auckland | $1,006,000 | $1,006,000 | $201,000 | $201,000 |
| Wellington | Wellington | $788,000 | $788,000 | $158,000 | $158,000 |
| Canterbury | Canterbury | $698,000 | $698,000 | $140,000 | $140,000 |
Most home deposits are around 20% of the property's asking price.
Why do lenders care about my home loan deposit?
What can I use for my home loan deposit?
Using your KiwiSaver for your home loan deposit
Using your KiwiSaver can be a big help in reaching your home loan goals.
What is the First Home Loan scheme?
Quick tips for saving for a home loan deposit
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