Disclaimer: Information shared on this forum is general in nature and should not be considered personalised financial or legal advice. We recommend speaking directly with a verified expert for advice tailored to your situation.

how much deposit do I need for my first home?

Misty Kereru #4137·29d ago·10 views·2 replies·FHBC expert answered
I'm just beginning to save for my first home. I have a small balance in KiwiSaver and some savings, but I am wondering how much I need to be ready.

2 Replies

Dustin LindaleFHBC Expert preview6d ago

You don’t need to have everything figured out before you start planning. That's where talking with a mortgage adviser can help. As a general guide, first home buyers can aim for around a 10% deposit, while a 20% deposit gives you more options and can reduce low-equity costs. In some cases, buying with as little as 5% with a First Home Loan may be possible, but it depends on your income and lender criteria. You can...

Join free to read every reply

Members can read the full discussion, ask follow-up questions, vote for helpful replies, and get updates from FHBC experts.

Helpful first-home-buyer guides

Read these while the full member discussion is gated.

Browse articles