Most people think they need 20%.

You might not.

First home buyers can often get in with 5–10%, depending on your situation and the lender.

Your deposit can come from:

Savings

KiwiSaver

First Home Grant (if eligible)

Gifted funds from family

Or a mix of all of these

But here's what banks really care about:

Your income. Your expenses. Job stability. And whether the loan actually fits your financial picture.

The deposit gets you in the door - the rest gets you approved.

If you've been contributing for 3+ years, you can use it toward your first home deposit.

Here's how it actually works:

1. Check you're eligible

You need to be a first home buyer (or qualify under second-chance rules) and buying a place you'll live in.

2. Work out how much you can use

Almost your entire balance. You just leave $1,000 behind.

3. It becomes part of your deposit

Your KiwiSaver gets paid to your solicitor at settlement—and counts toward what the bank needs.

4. Timing is everything

This is where people get stuck.

Too early? Too late? Either one causes problems.

It has to line up with your purchase agreement and settlement date. (don't worry, we help you with this!)

For many first home buyers, KiwiSaver is the key that turns “one day” into “ready now.”

Your borrowing power depends on what you earn, what you spend, your debts, dependants - and how the loan's structured.

On average banks will lend up to 6x your gross annual income.

You can also play around with our tools like our repayment calculator so see what kind of payments you can afford.

A chat with an adviser and proper assessment will tell you what you can actually borrow - so you're house-hunting with confidence and not guessing.

Usually just:

- A quick conversation

- Proof of income

- ID

- A rough idea of your goals

We’ll tell you exactly what’s needed - and help you gather it without stress.

Yes - there are a few common ones, but the good news is many are manageable and often covered by cashback or negotiation.

Typical costs include:

Building & LIM reports

Lawyer fees

Valuation fees

Bank application fees (sometimes waived)

Insurance (if required by the lender)

Often, cashback or lender incentives can cover some of these, and we’ll help you plan so there are no surprises.

Buying your first home can feel overwhelming. But it's a clear path:

1. Work out what you can afford

We help you understand your borrowing power, deposit, and get pre-approval - so you're ready to move when the right home shows up.

2. Start house hunting

3. Make an offer (with conditions)

Your offer includes protections: finance approval, building report, LIM report.

4. Go unconditional

Conditions met? The home is officially yours.

5. Finalise your loan

We handle the paperwork and help coordinate everything with your lender & solicitor.

6. Settlement day - you get the keys

Funds transfer. Keys handed over. You're home.

Want the full breakdown? Grab our First Home Buyers Guide - 10 practical steps in detail.