For many first home buyers, the process of buying a house can be quite daunting, but with the right mortgage broker it can be an exciting experience!

The team at Eclipse will help you secure your most valuable asset.

Want to realise your dream of home ownership but don’t have a huge deposit?

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If you’re buying your first home and have been contributing to Kiwisaver for more than three years, then you can withdraw KiwiSaver contributions made by you and your employer to use as deposit for your first home.

To be eligible to withdraw some or all of your KiwiSaver you must be:

  • Buying your first home
  • Be over 18 years old
  • Contributed at least 3% of your income to a KiwiSaver scheme for at least three years
  • Planning to live in the house for at least six months

Kiwi Saver Withdrawal

KiwiSaver HomeStart Grant

The KiwiSaver HomeStart grant is another means to get into your first home faster. You can apply for the HomeStart grant or pre-approval if you have belonged and contributed to a KiwiSaver scheme, complying fund or exempt employer scheme for at least three years and meet the following criteria

  • Have a single income under $85,000 or a combined yearly income of $130,000 or less (before tax) two buyers
  • Buying a house under $600,000 (or building new for under $650,000) in Auckland, $500,000 in other major metropolitan areas, and $400,000 across the rest of New Zealand.

If you are purchasing an existing/older home, the HomeStart grant is $1,000 for each year of contribution to the scheme:

  • 3 years of contributing = $3,000 (the minimum you can get)
  • 4 years of contributing = $4,000
  • 5 years of contributing = $5,000 (the maximum you can get).

It gets better if you are buying off plan or building new. You could double your HomeStart Grant up to $20,000 per couple.


First Home Grant

Welcome Home Loan

While saving, a big enough deposit is the obvious way to get on the property ladder – there are additional initiatives designed to help.

Welcome Home Loans are issued by selected banks, underwritten by Housing New Zealand, and allow the bank to lend on a lower deposit without any restrictions. For first home buyers, it can mean getting on the property ladder sooner.

To be eligible for a Welcome Home Loan you need to meet certain minimum criteria:

  • Income cap:You can have a maximum yearly income of up to $85,000 (before tax) for 1 person. Or a combined maximum yearly income of $130,000 (before tax) for 2 or more people.
  • Minimum deposit:You will need a minimum 10% deposit
  • House price cap: The price of the house you are buying with a Welcome Home Loan must be less than the regional house price cap.
  • NZ Citizen:You need to be a NZ Citizen or NZ Permanent Resident.

For more details check out the

The House Price Caps



House Price Cap For Existing/Older Properties

House Price Cap For New Properties

Auckland, Queenstown Lakes District $600,000 $650,000
Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Tasman District, Nelson City, Waimakariri District, Christchurch City, Selwyn District $500,000 $550,000
Rest of New Zealand $400,000 $450,000