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First home buyer loans

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First home buyer assistance

Banks have strict lending policies for first home buyers, and loan rates can vary. At BRM Financial, we specialise in securing competitive house and land finance packages for first-time buyers. With deposits as low as 10%, larger Homestart grants, and Kiwisaver access for eligible clients, building your first home makes sense in today’s market. We’ll help you explore loan options, government grants, and entitlements, making sure you’re in the best position to take advantage of stable interest rates and affordable property prices.

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Considerations in securing your first home loan

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What assistance is available to you as a first home buyer

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Suitable mortgage options for first home buyers

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The size of your deposit and where you source it from

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The fees and charges associated with purchasing a property

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Undertaking thorough research on the current property market

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Consider the current interest rate climate

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KiwiSaver & Homestart

KiwiSaver is a voluntary savings scheme using the PAYE tax system. To withdraw KiwiSaver funds for a first home, you must contribute for at least three years. The First Home Grant offers up to $10,000 for new builds after three years of saving. KiwiSaver also has a "second chance" option, allowing those who previously owned a home to withdraw funds for a new purchase if eligible.

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We have financed several investment properties and I know he’s saved me a lot of stress, time and money. If you are looking for a great mortgage broker who listens and does what he says, Brads your man

 Phil Cramner

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Brad has been out mortgage ‘go to’ guy for 10 years now and over that time he’s proven himself to be a super knowledgeable and attentive

 David and Fiona Burrows

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Thank you so much for all your help and guidance, working with you was a fun and professional experience, and we refer all our friends to BRM for mortgage advice.



 James and Donna Wadlow

First home buyer loans FAQs

Got questions about your first home loan? Check out our frequently asked questions below!

  • How much deposit do you need for a first-time home buyer in NZ?

    A 20% deposit is generally required in order to secure a home loan. Flexible banking policies means there are now also a number of alternatives where a deposit of 20% or less is possible.

  • What options are there for sourcing a deposit?

    Options for sourcing the deposit you need, include:

    • Traditional savings
    • Gifted money
    • Equity or guarantees from family members
    • Fees and charges for first home loans

  • Can I use KiwiSaver for my first home deposit?

    By contributing the minimum amount to a KiwiSaver fund for three years, you can use it to help with a deposit for your first home in two ways: 1) Withdraw most of your fund for the deposit through the KiwiSaver first-home withdrawal, or 2) Receive a government grant called the First Home Grant, which can give you up to $10,000 towards the deposit on a new home or land, or up to $5,000 for an existing home.

  • Do I qualify for a first home buyer’s grant?

    The government offers a First Home Grant to assist first-time home buyers, provided they meet the following criteria:


    • Contributed at least the minimum amount to KiwiSaver for three years or more, with a minimum of 3% of their total income or at least $1,000 per year (whichever is lower).
    • Earned no more than a specific amount in the 12 months before the application, such as $95,000 before tax for an individual buyer, $150,000 for an individual buyer with one or more dependents, or $150,000 combined for two or more buyers.
    • Do not own any property currently.
    • Have a minimum deposit of 5% of the property's purchase price or one that they wish to construct.
    • Agree to reside in the home for a minimum of six months.

  • Can I use a First Home Grant as a deposit?

    To qualify for a First Home Grant, you need to demonstrate that you have a deposit of at least 5% of the property's purchase price. If approved or pre-approved, the grant can be used towards the deposit and combined with a KiwiSaver first-home withdrawal, savings, payments already made towards the property, or a monetary gift from a close relative. The family member making the gift must provide a formal declaration confirming that the money is a gift and not a loan to be repaid.

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