Welcome Home Loan

If you are finding it hard to save the deposit for a home loan then maybe a Welcome Home Loan is what you need to apply for. Welcome Home Loans are designed for people who can make regular payments on a home loan but are finding it hard to save a large deposit.

Kiwi Saver Withdrawal

You may be eligible to withdraw from your KiwiSaver in order to build your deposit.

KiwiSaver HomeStart Grant (Deposit Subsidy)

If you have been in KiwiSaver for at least three years and have contributed, at least, the minimum percentage of your income to your KiwiSaver Scheme, then you may be eligible for the KiwiSaver HomeStart Grant (Deposit Subsidy).

There are two different grants available, one for newly built houses and one for existing houses. If you are purchasing a brand new home or building one, then you may be able to get $2,000 for each year you have been in KiwiSaver to a maximum of $10,000. The other option is for buying existing homes and you may be able to get $1,000 for each year you have been in KiwiSaver to a maximum of $5,000. So you could receive between $3,000 and the maximum of $10,000 towards your deposit from the Government, depending on your situation.

If you are a couple, you could potentially receive up to $10,000 in first home buyer government grants if you have both been in KiwiSaver for 3-5 years! OR if you are building then it could be up to $20,000 towards your new home!

Are you eligible for a Welcome Home Loan?

Welcome Home Loan has the following standard criteria. You will also need to meet the specific lending criteria of the participating lenders.

Applicants must be New Zealand Citizens or Permanent New Zealand Residents (holding a ‘Permanent Resident Visa’).

Welcome Home Loan has the following standard criteria. You will also need to meet the specific lending criteria of the participating lenders.

Applicants must be New Zealand Citizens or Permanent New Zealand Residents (holding a ‘Permanent Resident Visa’).

Maximum Income thresholds:

  • For 1 borrower you can have a maximum yearly income of $80,000 (before tax).
  • For 2 or more borrowers you can have a maximum household yearly income of $120,000 (before tax).