Buying guide
How much deposit do first home buyers need?
It may seem like you’ve got a mountain to climb, but with a little help it’s possible
AI summary
Saving a 20% deposit is the standard goal for first home buyers, but securing a loan with 10% or even 5% is often possible. However, smaller deposits can result in higher interest rates or fees.
Options for securing a low-deposit loan include:
- Using a mortgage broker to find a willing lender.
- Family help via a co-borrower or guarantor arrangement.
- Qualifying for the government's First Home Loan.
Your KiwiSaver funds can also be withdrawn to boost your deposit amount.
First home buyers deposit amount
How to buy a home with a 10% or 5% deposit
Find the right lender
Buying your first home in New Zealand isn't easy but it's possible with a little help.
Get help from family
Qualify for government assistance
KiwiSaver withdrawals
There is government assistance available for ellignble first home buyers.
Improving your chances as a low deposit first home buyer
The pros and cons of low deposit home loans
Author
Discover More
Coast to Coast founder went for a walk one morning in his pyjamas. He came home having bought a house
Robin Judkins bought a rundown Sumner home on a whim and transformed it into a creative retreat.
Four ovens, multiple fridges and a 13-metre wall: Inside NZ’s best new kitchen
Explore NZ’s award-winning Te Arai kitchen, with a sculptural island and 13m wall of oak joinery.
Search
Other articles you might like
