Buying guide

How to get a 5% deposit home loan in NZ

Only got a little deposit saved? This article's for you.

Last updated: 27 August 2025 | 5 min read

AI summary

Eligible first-home buyers in NZ can purchase a property with a 5% deposit using the First Home Loan scheme, underwritten by Kāinga Ora.

This loan helps buyers who don't have the standard 20% deposit. Key eligibility criteria include:

- Income caps (e.g., under $95,000 for a single buyer)

- NZ citizenship or permanent residency

- The property must be your main home

Applications are made through participating lenders like Westpac and Kiwibank, but may involve higher interest rates or fees.

Saving a deposit can be challenging for first home buyers.

There are several ways to get a deposit together to buy a home/

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