Free NZ mortgage tool
Enter a house price and the money you’ve got, including KiwiSaver, to see your deposit as a percentage. That percentage decides which lenders and loan options are open to you.
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Include savings, the KiwiSaver amount you expect to withdraw, and any gift from family. Gifts usually need a letter confirming they aren’t a loan.
Indicative only
See what your savings add up to — and how close you are to the next lending band.
Include savings, KiwiSaver you can withdraw, gifted funds, or usable equity.
Your deposit
14.1%
Low-deposit band · lender criteria apply
To reach the next band
$50,000
more for a 20% deposit
You're there
Your deposit clears the standard 20% band.
Deposit bands are indicative. LVR limits and exemptions (including new builds and Kāinga Ora First Home Loans) vary by lender and change over time. All lending is subject to lender assessment and approval criteria. This is not financial advice.
20% or more (owner-occupier). You’re outside the Reserve Bank’s low-deposit limits, so you have the widest choice of lenders and the best rates.
10% to 20%. Very doable. Banks are allowed to do a share of their owner-occupier lending at this level. Expect a low equity margin or fee on top of the rate until you reach 20% equity.
5% to 10%. Harder, but possible. The Kāinga Ora First Home Loan lets eligible first home buyers buy with a 5% deposit through participating lenders. New builds are exempt from the Reserve Bank’s deposit rules, so some banks will lend on a new build with a smaller deposit. Have a look at low deposit home loans.
Investors generally need 30% or more for an existing property, because the Reserve Bank limits bank lending to investors below that level. A new build can change that. See property investment loans.
KiwiSaver. If you’ve been a member for at least three years and you’re going to live in the home, you can usually withdraw almost all of it towards your first home, leaving $1,000 in the account. The details are in using KiwiSaver for your first home.
Most banks prefer 20% for a home you’ll live in. With less than that you can still get a loan, but there are fewer options and you’ll usually pay a low equity margin. Some first home buyers get in with 5% through the Kāinga Ora First Home Loan.
Usually yes, if it’s your first home (or you qualify as a second chance buyer), you’ve been a member for at least three years, and you’ll live in the property. Read using KiwiSaver for your first home for the steps and timing.
Generally yes, as long as it’s a genuine gift and not a loan you have to repay. Banks will usually want a signed gift letter and to see where the money came from.
It’s an extra charge banks add when you borrow more than 80% of the property’s value. It’s either added to your interest rate or charged as a one-off fee. It usually comes off once your equity reaches 20%, but you often have to ask.
Not always. If prices are rising, the extra time spent saving can cost more than the margin. It depends on your situation, so it’s worth talking through. Book a free chat.