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 less than a 20% deposit is possible, though it may involve higher costs. Consulting a mortgage broker is a crucial first step to understand your options and strengthen your application.
The government's First Home Loan scheme, underwritten by Kāinga Ora, can help eligible buyers purchase with as little as a 5% deposit. Other pathways include using your Kiwisaver withdrawal, exploring rent-to-own schemes, or getting financial help from family through gifts or as guarantors.
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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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