5% or 10% Deposit
Looking to buy your first home in New Zealand but only have a 5% or 10% deposit? You may still be able to get a home loan through the First Home Loan scheme, designed to help first-time buyers get into the property market faster.
Get in touch
Call me on 0275 260 007. Or fill out the form below and I'll get back to you real fast.
Can I Buy a House with a 5% Deposit in NZ?
Yes — if you qualify for a First Home Loan.
Most banks in New Zealand require a 20% deposit, but with a First Home Loan, you may be eligible to buy a home with as little as 5% deposit.
These low deposit loans are supported by Kāinga Ora – Homes and Communities, and available through selected banks and lenders.
First Home Loan NZ – Eligibility Criteria
To apply for a First Home Loan, you must meet both Kāinga Ora’s and the lender’s requirements.
You may qualify if you:
Are a New Zealand citizen, permanent resident, or resident visa holder living in NZ
Are a first-time buyer, or in a similar financial position to a first home buyer
Earn under the income cap for the last 12 months:
$95,000 or less for a single buyer with no dependants
$150,000 or less for a single buyer with dependants
$150,000 or less combined for two or more buyers
Bonus Tip: You can use your KiwiSaver funds for the deposit.
First Home Loan Insurance Premium – Update July 2025
From 1 July 2025, the insurance premium on new First Home Loans will increase:
Old rate: 0.5% of the loan amount
New rate: 1.2% of the loan amount
You can either pay this fee upfront or spread it over the life of your loan.
Ready to Buy Your First Home?
If you’re a first home buyer with just a 5% or 10% deposit, I can help you explore your options through the First Home Loan NZ scheme. Let’s chat and find out what’s possible for your situation.