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 government support. The KiwiSaver First Home Withdrawal lets you use your savings for a deposit if you've been a member for over three years and plan to live in the property. You must leave at least $1,000 in your account.
The First Home Loan, underwritten by Kāinga Ora, allows you to buy a home with just a 5% deposit. This scheme has income and regional house price caps to determine eligibility.
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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