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 4 - Rawiri

Published: 15 May 2016

How Rawiri bought his first home

How Rawiri bought his first home with a First Home Loan and KiwiSaver.


Rawiri is looking at buying his first home. Since graduating from university just over a year ago, he has been employed in a local office in Hastings and has earned $60,000 in the last 12 months.

On the advice from his parents, he joined KiwiSaver in 2013 and has contributed the minimum percentage of his earnings towards KiwiSaver from his part-time jobs. He also contributed towards KiwiSaver from the Study Link finance he received while at university.

Rawiri is looking at buying a home for around $300,000. His parents are gifting him a sum of $10,000 and they have this confirmed by a gifting certificate. He has applied for a First Home Grant pre-approval and has been confirmed that he is eligible, providing he buys a home for $400,000 or less.

As most of his contributions have been from part-time work or Study Link, only around $7,000 can be withdrawn from his KiwiSaver account. He has spoken to a First Home Loan lender about a First Home Loan and has been advised he meets the criteria providing he has a deposit of at least 5% of the house purchase price, and that it is within the house price cap for the region.

He asked the First Home Loan mortgage manager if the gift from his parents of $10,000, a First Home Grant pre-approval of $5,000 and his KiwiSaver first-home withdrawal of $7,000 would be acceptable as at least a 5% deposit on a house of no more than $300,000. It was and he was advised he could receive a First Home Loan of $278,000.


House purchase price $300,000
Deposit amount $22,000 ($10,000 + $5,000 + $7,000)
Deposit available 7.3%
First Home Loan $278,000 (92.7% LVR)
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