How much of a deposit will I need to buy a home with a First Home Loan?

The deposit must be at least 5% of the purchase price, and meet the following criteria:

  • Deposit must be in the form of cash (this includes any KiwiSaver withdrawal).
  • The deposit cannot be borrowed.
  • A builder’s gift or vendor finance is not an acceptable form of deposit.
  • Deposit may be from a non-repayable gift, as detailed below.


Many Kiwis’ turn to the bank of Mum and Dad to build a deposit for their first home. However, your lender may not accept a fully gifted deposit. Most lenders will want to see that you have at least 5% of the total property price in savings. Gifting is a great way to build your deposit. After all, every bit helps. You'll need your gifter to sign a declaration as evidence that these funds do not need to be paid back.


More frequently asked questions about home loans

You may find the answer on one of the pages below: