The New Zealand government offers two key support schemes for first home buyers: the First Home Grant and the First Home Loan. Together, they can make the difference between getting into the market now or waiting years longer. Here's what you need to know.
First Home Grant: Free Money for Eligible Buyers
The First Home Grant provides eligible first home buyers with a one-off cash grant: up to $5,000 for an existing home (or $10,000 for a new build) per person. A couple can receive up to $10,000 for an existing home, or $20,000 for a new build. It's funded from your KiwiSaver contributions and doesn't need to be repaid.
Eligibility Criteria for the First Home Grant
To qualify you must: be a NZ citizen or permanent resident, have contributed to KiwiSaver for at least 3 years, meet income caps ($95,000 single / $150,000 combined for couples), purchase a home within regional house price caps, and intend to live in the property. Previous homeowners may also be eligible if your assets fall below certain thresholds.
First Home Loan: 5% Deposit for Eligible Buyers
The First Home Loan (underwritten by Kāinga Ora) allows eligible buyers to purchase with just a 5% deposit — significantly lower than the standard 20% requirement. It's offered through participating lenders (ANZ, ASB, BNZ, Westpac, Kiwibank, and others).
Can I Use Both Schemes Together?
Yes — and you should if you're eligible. The First Home Grant provides the cash, and the First Home Loan allows you to purchase with a lower deposit. Combined with KiwiSaver withdrawals, many first home buyers can piece together a deposit far faster than they expected.
How We Help
Eligibility rules are complex and change periodically. We assess your eligibility for both schemes as part of every first home buyer consultation — at no cost. We've helped hundreds of Kiwis access these schemes and get into their first home sooner.
Find out if you're eligible for the First Home Grant or First Home Loan — book a free assessment.