NZ Deposit Calculator
Calculate how much deposit you need to buy a home in New Zealand. Includes KiwiSaver withdrawal, First Home Grant, and Kainga Ora First Home Loan eligibility. Shows your gap and savings timeline to reach 10%, 20%, and 35% deposit targets. All figures in NZD.
A NZ first home buyer can combine multiple sources to reach their deposit. Here is every source and what you have available.
| Source | Available to You | Requirements |
|---|---|---|
| Your KiwiSaver withdrawal | NZ$27,000 | Eligible — 3yr minimum met |
| First Home Grant (you) | NZ$3,000 | FHB + 3yr KiwiSaver + income/price caps. $1,000/yr (existing) |
| Personal savings | NZ$30,000 | Available now |
| Total Available | NZ$60,000 | Remaining gap: NZ$5,000 to 10% |
Options to buy with less than the standard 20% deposit in New Zealand.
- Deposit required: NZ$32,500 (5%)
- Income cap: $95,000 single / $150,000 couple
- Property price cap varies by region
- Kainga Ora guarantees high-LVR portion to bank
- Available through participating banks: ANZ, ASB, BNZ, Kiwibank, Westpac
- Standard bank lending criteria still apply
- Deposit required: NZ$65,000 (10%)
- RBNZ allows banks to lend 10% of their book at over 80% LVR
- Banks prioritise strong applicants for these exception spots
- Typically for FHB with good income, stable employment
- Low-equity premium (~0.25–0.5% higher rate) often applies
- Parents can provide equity in their home as security
- Can buy with 0% cash deposit using family guarantee
- Guarantor's property at risk if you default
- Limited guarantee — banks can cap the guarantee amount
- Independent legal advice required for guarantors
How to Use This NZ Deposit Calculator
Enter your property price, select your buyer type (first home buyer, standard owner-occupier, or investor), add your KiwiSaver balance and membership years, and enter your current savings. The calculator shows your minimum deposit requirement, how much KiwiSaver you can withdraw, your First Home Grant eligibility, and how long it will take to save the gap.
NZ Deposit Requirements at a Glance
- First Home Loan (Kainga Ora): 5% deposit — income and price caps apply
- First Home Buyer (standard bank): 10% deposit under RBNZ low-equity exceptions
- Standard owner-occupier: 20% deposit (80% LVR cap)
- Investor: 35% deposit (65% LVR cap — RBNZ restriction)
NZ KiwiSaver First Home Withdrawal
- KiwiSaver member for at least 3 years
- Buying your first home (or in same financial position)
- Property is in New Zealand
- You plan to live in the property
Amount you can withdraw:
Your entire KiwiSaver balance minus $1,000
(The $1,000 minimum balance must remain)
How to apply:
Apply to your KiwiSaver provider at least
10 working days before settlement date
The KiwiSaver withdrawal is the most significant source of deposit funds for most NZ first home buyers. If both partners are buying together and both have 3+ years of KiwiSaver, they can each withdraw their balance — effectively doubling the KiwiSaver contribution to the deposit.
NZ First Home Grant
The First Home Grant is a government contribution based on years of KiwiSaver membership:
- Existing homes: $1,000 per year of KiwiSaver (minimum 3 years, maximum 5 years = $5,000 per person)
- New builds: $2,000 per year (maximum 5 years = $10,000 per person)
- Couples: Both partners can receive the grant — maximum $20,000 combined for new builds
Eligibility requirements: First time buying (or in same financial position), household income below $95,000 single or $150,000 combined, property price must be within regional caps. Apply through Kainga Ora.
Example: Auckland First Home Buyer
Solo Buyer, Existing Home, Auckland
| Property price | $750,000 |
| 10% deposit required | $75,000 |
| KiwiSaver withdrawal (5yr, $35,000 balance) | $34,000 |
| First Home Grant (5yr membership, existing) | $5,000 |
| Personal savings | $25,000 |
| Total available | $64,000 |
| Gap to 10% deposit | $11,000 |
| Months to save gap at $2,000/mo | ~6 months |
Note: Auckland's $750,000 price exceeds the Kainga Ora First Home Loan price cap for existing homes. The buyer would need to use a standard 10% bank exception rather than the 5% First Home Loan.