Buying guide
Using KiwiSaver to buy your first home: how it works
Saving a deposit can be hard for first home buyers. Luckily, KiwiSaver and other schemes can help you out.
Last updated: 27 May 2024
AI summary
This guide helps first home buyers understand key financial support options. You can use a KiwiSaver First Home Withdrawal for your deposit if you've been a member for at least three years, but you must apply before settlement.
The First Home Loan, underwritten by Kāinga Ora, can help you secure a loan with only a 5% deposit, provided you meet specific income caps. These schemes are designed to make purchasing your first home in New Zealand more achievable.
In this article you’ll learn:
1. KiwiSaver First Home Withdrawals
Using KiwiSaver can make the maths on buying your first home a little less scary.
Your KiwiSaver manager will help you apply for your withdrawal.
2. The First Home Loan scheme
You'll need to check the eligibility criteria if you're going to apply for the First Home Loan.
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