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
Buying your first home is easier with schemes like the KiwiSaver First Home Withdrawal. If you've been a member for over three years, you can use your savings for a deposit, leaving a $1,000 minimum balance.
You may also qualify for a First Home Loan, underwritten by Kāinga Ora. This scheme allows you to purchase a property with only a 5% deposit. Eligibility depends on income caps and regional house price limits. Apply through participating lenders.
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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