Buying guide
How to get a 5% deposit home loan in NZ
Only got a little deposit saved? This article's for you.
AI summary
The First Home Loan scheme, backed by Kāinga Ora, helps eligible first-home buyers purchase a property with just a 5% deposit, bypassing the usual 20% requirement.
Eligibility is strict, with requirements for residency, income caps (e.g., under $95,000 for a single buyer), and owner-occupier status. Be aware of potentially higher interest rates.
Apply directly to participating lenders like Westpac and Kiwibank. Your deposit can be supplemented using your KiwiSaver or the First Home Grant.
5 percent deposit home loans NZ
Are you eligible for a home loan with a 5% deposit?
Saving a deposit can be challenging for first home buyers.
How to apply for the 5% deposit First Home Loan
The application process
There are several ways to get a deposit together to buy a home/
Getting a deposit together
Getting ready to buy
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