Buying Your First Home?

Need help understanding KiwiSaver and what grants and financial support are available?

There are some schemes you may have heard of and some that are less known.

These schemes include:

KIWISAVER WITHDRAWAL

(Withdraw almost all of you KiwiSaver contributions)

KĀINGA ORA FIRST HOME LOAN SCHEME

(Get a loan with as low as 5% deposit)

KĀINGA ORA FIRST HOME PARTNER

(Become a co-owner with Kāinga Ora)

KĀINGA WHENUA LOAN SCHEME

(Help for Maori to build on ancestral land)

Here's what you need to know

KiwiSaver Withdrawal

KiwiSaver withdrawal If you have been a member if KiwiSaver for at least 3 years, you may be able to make a withdrawal from your savings to put towards buying your first home. Eligible members can withdraw their KiwiSaver savings (including tax credits). However at least $1,000 must remain in their KiwiSaver account.

Other schemes worth knowing about:

The First Home Loan Scheme

Run by Kāinga Ora enables qualifying buyers to purchase a home with a 5% deposit. Kāinga Ora doesn’t provide the deposit. Instead, it provides a guarantee, enabling your bank to lend more to you than its normal lending standards would otherwise allow. Like the KiwiSaver First Home Grant, there is an income cap and a regional house price cap.
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First Home Partner

Is another government scheme that allows qualifying buyers to share ownership of a brand-new home with Kāinga Ora. Kāinga Ora buys up to 25% of the property that you’re interested in, and becomes a co-owner on the title. Over time, the home owner will eventually buy out Kāinga Ora’s share.
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The Kāinga Whenua Loan Scheme

Run by Kāinga Ora and Kiwibank helps Māori build or relocate homes onto ancestral land. If you’re eligible for a KiwiSaver First Home Withdrawal, you can also put any funds obtained that way towards the purchase of a Kāinga Whenua property.
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