Nau mai, haere mai. On 1 October, Housing New Zealand joined HLC and KiwiBuild to form Kāinga Ora – Homes and Communities.

Information on this site is still current. For more information about Kāinga Ora visit the Kāinga Ora website.

Example 2 - John and Sarah

Published: 1 August 2016

John and Sarah bought a house with KiwiSaver

How John and Sarah bought a house with First Home Grant and KiwiSaver first-home withdrawal. 


John and Sarah earned a combined income of $125,000 in the last year and have put in an offer on an existing home in Auckland for $600,000. As they have been paying rent in Auckland, they have only managed to save a $50,000 deposit.

Their bank has advised it will lend them $480,000.

John has been a member of KiwiSaver since July 2007, when it was first launched, and has contributed the minimum percentage of his salary/wages each year. Sarah, has been a KiwiSaver member since August 2009.

Both John and Sarah submitted applications to Housing New Zealand for the First Home Grant and have both been approved for $5,000. They have also made applications to their KiwiSaver scheme providers to withdraw their contributions to help with their first home. They are able to withdraw a combined total of $60,000 from their KiwiSaver accounts.


House purchase price $600,000
Minimum deposit required by lender $120,000 (20%)
Deposit components Saved deposit $50,000
  First Home Grants $10,000
  KiwiSaver first-home withdrawal $60,000
Deposit provided by client $120,000 (20%)
Bank Loan $480,000 (80% of LVR)
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