Financial help for first home buyers

Visit the Kāinga Ora website for information about the First Home Grant.

You can apply to withdraw your KiwiSaver savings to put towards buying your first home if you‘ve belonged to your KiwiSaver scheme for at least 3 years. You can withdraw your savings, but you must leave at least $1,000 in your KiwiSaver account.

KiwiSaver first-home withdrawal

With a First Home Loan (previously Welcome Home loan), you might be able to get a home loan if you only have a 5% deposit. How much you can borrow depends on where you live in New Zealand and what you can afford.

First Home Loan

You get a First Home Loan from a bank or other lender — not all banks and lenders offer this option. Kāinga Ora underwrites the loan. Before you can get a loan you need to meet criteria set by the government and your lender.

For the government to approve your loan, you must:

• have a 5% deposit
• buy a house that costs no more than the maximum price for your region — the regional cap
• have income before tax in the last 12 months of no more than:
  • $85,000 per year if you’re single
  • $130,000 per year if 2 or more of you are buying a house together.

First Home Loan — am I eligible?

Contact a lender who offer First Home Loans to find out their lending conditions. They could consider:

• whether or not they think you can repay the loan
• your credit history
• any debts you have
• your banking history.

Lenders who offer First Home Loans

You can borrow money to build, buy or relocate a home on your ancestral land.

Kāinga Whenua loans

If you’re an existing tenant in a state house you can buy your home if it’s available for purchase.

Tenant home ownership