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 key support schemes. The KiwiSaver First Home Withdrawal allows you to use your savings for a deposit after three years of membership, provided you intend to live in the home.
The First Home Loan, underwritten by Kāinga Ora, helps eligible buyers purchase a property with as little as a 5% deposit. This scheme has income and regional house price caps. Apply through your KiwiSaver provider or a participating bank.
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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