Start your homeownership journey – even with a small deposit.
Are you ready to buy your first home but feel held back by the deposit? At SK Financial Group, we help Kiwis step into homeownership with tailored Low Deposit Mortgage solutions. Whether you’ve saved 5%, 10%, or somewhere in between, we’ll help you find the right mortgage option to suit your needs.
What is a Low Deposit Mortgage?
A Low Deposit Mortgage allows you to purchase a property with less than the typical 20% deposit. Depending on your financial situation, you may be eligible with as little as 5% down.
We work with a wide range of lenders across NZ to secure competitive mortgage loan rates—even if you’re working with a smaller deposit.
Benefits of Choosing SK Financial Group
Low Deposit Options (5% – 10%)
Access home loans with lower upfront deposit requirements.
Competitive Mortgage Loan Rates
We negotiate with leading banks and lenders to find the best rate for your situation.
Personalised Mortgage Advice
Work with a dedicated adviser who understands your unique goals.
Support for First Home Buyers
Learn how to use your KiwiSaver and more.
Quick Pre-Approvals
Get clear answers fast so you can start house hunting with confidence.
Am I Eligible for a Low Deposit Mortgage?
You may qualify if you:
Have a stable income and employment history
Maintain a good credit score
Have minimal existing debt
Meet the LVR (Loan-to-Value Ratio) requirements
Are purchasing an eligible property
Our team will walk you through every requirement and help you build a strong mortgage application.
Looking to purchase your home soon?
With a First Home Loan through Kāinga Ora – Homes and Communities, you only need a 5% deposit.
If you meet the following criteria, then you are one step closer:
1. Be a New Zealand citizen, permanent resident, or a resident visa holder who is “ordinarily resident in New Zealand”.
2. Be a first home buyer, or a previous homeowner in a similar financial position to a first home buyer.
3. Have a before tax income from the last 12 months of:
4. $95,000 or less for an individual buyer without dependents; or
5. $150,000 or less for an individual buyer with one or more dependents; or
6. $150,000 or less (combined) for two or more buyers, regardless of the number of dependents
Additionally,
7. Minimum 5% deposit of the purchase price.
8. Purchasing property to live in as your primary place of residence.
9. Not an owner of any other property or land, this does not include ownership of Māori land.
10. Property is less than 1 hectare.
11. Pay a 0.5% Lender’s Mortgage Insurance premium and loan application fee (if applied by the lender)
Under this scheme, you can borrow at lender’s special interest rate and still achieve an attractive cash incentive offer.
Alternatively, if you are falling short and unable to meet the eligibility criteria, we can still find option with cash incentive.
Generally, with low deposit lending, lenders/ banks can apply additional margin ranging from 0.25% – 1.20% to the standard rates. First Home Loan through Kāinga Ora is exempt from additional margin.
Let’s Talk – Helping Kiwis Across NZ Get Into Homes Sooner
At SK Financial Group, we believe that homeownership shouldn’t be out of reach just because you haven’t saved a 20% deposit. With our help, you can explore low deposit mortgage options that get you one step closer to the keys in your hand
As a first-time home buyer NZ, you may be eligible for financial assistance such as the KiwiSaver First-Home Withdrawal, and First Home Loan. SK Financial Group can guide you through these options and help you understand which ones you qualify for.
While a deposit of 20% is typically required, we have options available for first-time home buyers with lower deposits. At SK Financial Group, we can arrange lending for up to 95% of your home’s value, meaning you may only need a 5% deposit to get into your first home. We’ll work with you to find the best solution that fits your financial situation.
Pre-approval is an indication from a lender of how much you can borrow before you start house hunting. It gives you a clear budget and shows sellers you’re a serious buyer. Our team can assist you in getting pre-approved, making the home-buying process smoother.
Yes, you can withdraw your KiwiSaver funds to put towards your first home deposit, provided you meet certain criteria. SK Financial Group can help you navigate the process and ensure you make the most of your KiwiSaver savings.
We offer personalized advice, access to a wide range of lenders, and step-by-step support to make your home-buying journey as smooth as possible. From securing the best mortgage rate to handling all the paperwork, we’re here to help you every step of the way.
In addition to your deposit, there are other costs such as legal fees, building inspections, registered valuer and potential loan application fees. We’ll walk you through all these expenses upfront, so you’re fully prepared for the financial aspects of buying your first home.
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