Buying guide
Low deposit home loans: how to buy your first home sooner
Got less than 20%? No worries.
AI summary
Buying your first home with a low deposit is possible, though it may involve higher costs. Seeking advice from a mortgage broker is a crucial first step to understand your options and strengthen your application.
Several pathways can help you get on the property ladder sooner:
- The First Home Loan scheme, backed by Kāinga Ora, allows eligible buyers to purchase with just a 5% deposit.
- Other options include Kiwisaver withdrawal, rent to own schemes, and family assistance through gifting or acting as guarantors.
Get advice right away
Buying with a small deposit is possible – but there are drawbacks
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There's help available if you're sturggling to save a deposit.
Getting a little help from the government
First home loan scheme - 5% deposit loans
Kiwisaver withdrawal
Rent to own schemes
State house purchasing
Saving for a house in NZ isn't easy/.
Getting help from family and friends
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