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
First home buyers can use their KiwiSaver funds for a deposit after being in the scheme for at least three years. You must live in the property and leave a $1,000 minimum balance in your account. The process must be completed before settlement day.
Another option is the First Home Loan, underwritten by Kāinga Ora. This scheme allows eligible buyers to secure a home with only a 5% deposit. Eligibility is subject to income and regional house price caps.
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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