Kiwisaver home deposit can be your first home deposit!

Kiwisaver home deposit

Kiwisaver home deposit

If you’ve been in Kiwisaver for a while now the task of saving a home deposit could already be done! Yes you can take some money out of Kiwisaver and put that towards your home deposit.

The Kiwisaver Home Deposit First Home Withdrawal

If you’ve been in long enough (3 years) and have put in at least the minimum during that time then you can take out all the money you’ve put in, all the money your employer has put in plus all the interest earned along the way. Talk to us today about a Kiwisaver home deposit!

To find out how much you can get you need to contact your Kiwisaver scheme and ask for a pre-approved withdrawal letter or register with My Kiwisaver and get it online.

The Kiwisaver Home Deposit First Home Subsidy

This is one off payment from the government of $1000 for every year you’ve been in Kiwisaver. You have to have been contributing at least the minimum for 3 years, you can get a maximum of $5000.

The same income and house price caps for the Welcome Home Loan apply here and you have to be putting in a 10% deposit yourself. The good news is that the 10% can include the Subsidy itself, the first home withdrawal and any other funds you might have.

To find out if you can get the subsidy you need to apply via Housing NZ. There’s a long but simple form to complete available on their website.

The really good news for a Kiwisaver home deposit?

If you’re buying with someone else or with a group of other people it’s possible to combine all of the above. Potentially that’s a massive deposit if you’re able to pool your resources.

Let us help get your Kiwisaver home deposit!

Forms can be confusing. Especially that Housing NZ one. Far out! Ring us for help!

First Home Auckland Mortgage

You’re our speciality and we know you well.

Throughout this journey you’ll have questions. Heaps of them. That’s all good because there aren’t many questions we haven’t heard before.

We’ve built our business around first home buyers!