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 home loan deposits is crucial for buying property in NZ. While a 20% deposit is standard, several options can help you enter the market sooner.
First home buyers may be able to use their KiwiSaver funds after three years of membership. Additionally, the First Home Loan scheme allows eligible buyers to purchase a home with as little as a 5% deposit. Lenders value 'genuine savings' and a larger deposit often results in more favourable loan terms.
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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