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Our blog covers everything from KiwiSaver tips for first home buyers to refinancing strategies and updates on the property market — all written to help you make smarter decisions with your mortgage.

Kainga Ora First Home Loans 5% Deposit

Pay your own Mortgage not the Landlords…

Kāinga Ora First Home Loan – Helping First Home Buyers Get Started
For many first-home buyers, saving a 20% deposit can seem like an impossible task. That's where the Kāinga Ora First Home Loan can help.
The First Home Loan scheme allows eligible buyers to purchase a home with a deposit as low as 5%, making home ownership more accessible for those who have a strong income and good financial management but haven't been able to save a large deposit. In many cases, funds withdrawn from your KiwiSaver can be used towards all or part of the required 5% deposit, helping buyers get into their first home sooner.
Example
A buyer looking to purchase a home for $575,000 would normally need a 20% deposit of $115,000 under standard lending criteria. However, with a Kāinga Ora First Home Loan, they may be able to purchase the same property with a 5% deposit of just $28,750, reducing the required savings by $86,250.
For many first-home buyers, this entire deposit can be funded from their KiwiSaver savings, provided they meet the KiwiSaver first-home withdrawal criteria.

  • Purchase Price: $575,000

  • 5% Deposit: $28,750

  • Loan Required: $546,250

To be eligible, applicants generally need to be New Zealand citizens or permanent residents, intend to live in the property as their primary residence, and meet the programme's income criteria. Participating lenders will also assess affordability, employment stability, credit history, and overall financial position before approving the loan.
If you're considering buying your first home, obtaining a finance pre-approval is a smart first step. A mortgage adviser can help determine whether you qualify for a First Home Loan and guide you through the process, giving you confidence when it's time to make an offer.
At Mortgage Group, we help first-home buyers navigate the lending process every day. If you'd like to find out whether you qualify for a Kāinga Ora First Home Loan, get in touch today and let's start building your pathway to home ownership.

Give me a call 0275260007 or email me and lets get started…its a free service…so why wouldn’t you, Mortgage Group, Simple Fast Approved.

Martin Eagle