Buying guide
How much do you need for a house deposit in New Zealand?
Everything you need to know.
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AI summary
In New Zealand, banks typically require a 20% house deposit. However, low-deposit options of 5-10% are possible, particularly for new builds or through schemes like the First Home Loan, which helps eligible first-time buyers with only a 5% deposit.
Lenders usually require at least 5% of the deposit to be "genuine savings," which can include your KiwiSaver funds. To reach your goal faster, create a budget, maximize KiwiSaver contributions, and consider consolidating debt.
How much deposit do I need?
How much deposit do I need for an investment property?
A house deposit is one portion of the money a buyer pays to a property seller to secure the home
Where can my deposit funds come from?
First home loan: a helping hand for first home buyers
How to get a mortgage
Tips to save your deposit faster
1. Create a budget and stick to it
2. Make the most of your KiwiSaver
3. Incentivise saving
Consolidating your debts can help you avoid paying additional fees.
4. Debt consolidation
5. Talk to friends and family
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