5% DEPOSIT - FIRST HOME LOAN
The First Home Loan, supported by Kāinga Ora, is designed to help eligible first-home buyers enter the property market sooner.
What is the First Home Loan?
Typically, banks require a 20% deposit, making homeownership challenging for many first-home buyers. The First Home Loan removes this barrier by allowing approved applicants to secure a mortgage with only a 5% deposit. These loans are available through selected banks and lenders, with Kāinga Ora underwriting them to reduce the lender’s risk.
If saving even a 5% deposit is difficult, you may be able to use your KiwiSaver first-home withdrawal or receive a gifted deposit from family to help meet the requirement.
Who Can Apply?
To be eligible for a First Home Loan, you must:
✅ Be a New Zealand citizen, permanent resident, or resident visa holder living in New Zealand.
✅ Applicants must be currently employed in New Zealand and have been with their current employer for at least 12 months.
If employed for less than 12 months, applicants must provide evidence of stable employment in the same occupation or industry over the past two years.
✅ Be a first-home buyer or in a similar financial position to one.
✅ Have an annual income of:
$95,000 or less (for individuals with no dependents).
$150,000 or less (combined, for couples or individuals with dependents).
✅ Have a minimum 5% deposit, which can come from savings, KiwiSaver, or a family gift.
✅ Be purchasing a property to live in, not as an investment.
Give me a call via 022 398 5140 for further discussion.
Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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73.2% We work hard, we deserve a break!
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16.9% Hmm, maybe?
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9.9% Yes!
A riddle to start the festive season 🌲🎁🌟
I'm a fruit. If you take away my first letter, I'm a crime. If you take away my first two letters, I'm an animal. If you take away my first and last letter, I'm a form of music. What am I?
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
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Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Poll: Should we be giving the green light to new mining projects? 💰🌲
The Environmental Protection Authority announced this week that a proposed mine in Central Otago (near Cromwell) is about to enter its fast-track assessment process. A final decision could come within six months, and if it’s approved, construction might start as early as mid-2026.
We want to know: Should mining projects like this move ahead?
Keen to dig deeper? Mike White has the scoop.
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53% Yes
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47% No
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