Low deposit options

If you're looking at buying a home and your current deposit is 10% or more of the property price, we might be able to lend to you. This depends on your circumstances and other factors, so it's worth getting in touch to discuss whether this is an option for you.

If you're building a new home, a lower deposit might be okay. Constructing a property can be complex and takes time. Each situation is different so talk to us early on in the journey to see how we can support you.

Find out more about borrowing to build.

If you buy a new build off the plans or a recently constructued home from the developer, this is called a turnkey property.

If you're looking at buying one of these, you might only need a 10% deposit.

A Kāinga Ora First Home Loan could get you into your first home with as little as a 5% deposit. Some or all of your deposit can be gifted by a family member. You must plan to live in the house you buy, and meet other eligibility criteria such as income limits.

Find out more about First Home Loan.

The Kāinga Whenua Loan Scheme aims to help Māori achieve home ownership. A Kāinga Whenua loan is secured against the house only rather than the house and land like other home loans.

You'll need a 5% deposit for every dollar borrowed over $200,000. This means, to buy a $400,000 property, you'd only need $10,000. Find out more and see how to apply.

If you've got a 5% deposit but you're not eligible for any Kāinga Ora loans, keep saving. Make sure you're using your current deposit to generate even more returns by keeping it in an account that earns interest.

See if a term deposit or Notice Saver account is right for you.