Low-Deposit Strategies for NZ First-Home Buyers

Three pathways for borrowers with less than 20% deposit: Kāinga Ora First Home Loan (5% deposit, eligibility-capped), lender low-equity margins (typically 0.25%-1.5% above carded), and the new-build LVR exemption. This page maps which fits which situation.

The question

What's the best path with less than 20% deposit in NZ?

Factors that matter

› Household income (Kāinga Ora caps: $95k single / $150k couple)
› Regional house-price (Kāinga Ora caps vary by region)
› Type of property (existing dwelling vs new build)
› Tolerance for higher servicing rate at low-equity margin lenders
› KiwiSaver first-home withdrawal can supplement any of these paths

Talk it through with an adviser

Your numbers matter — an adviser from Evolve Group Limited (FSP711891) can model this scenario against current carded rates and your servicing position.

Get Matched

Important: how to read this information

This website is operated by Evolve Group Limited (FSP711891), a Licensed Financial Advice Provider regulated by the Financial Markets Authority (NZ). The information published here is general in nature and is not personalised financial advice. For personalised advice that takes your circumstances into account, request to be matched with one of our licensed mortgage advisers via the enquiry form.

Rate accuracy. Rates shown across this site were observed at 21 May 2026, 12:27 pm from each lender's published carded-rate page (linked per row). If a lender has updated their rates since that timestamp, the authoritative source is the lender's page, not our derived snapshot. Carded rates are advertised rates — the rate you ultimately receive depends on your application.

CCCFA + Responsible Lending Code. Final lending decisions are made by the lender under the Credit Contracts and Consumer Finance Act 2003 and the MBIE Responsible Lending Code. Lenders apply servicing-test rates (typically around 8% post-2023), debt-to-income caps (RBNZ DTI 6× owner-occupier / 7× investor from 2024), and Loan-to-Value Ratio limits. Carded rates are not an offer or a pre-approval.

Disputes. If you have a complaint about advice received through this site, contact Financial Services Complaints Limited (FSCL) on 0800 347 257 or info@fscl.org.nz.

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