Deposit Required by LVR Band Calculator NZ 2026/27
This calculator works out the deposit and loan amount you need at each of the common loan-to-value ratio (LVR) bands used in New Zealand home lending, 30%, 20%, 15%, 10% and 5%, for any purchase price you enter. Rather than showing a single figure, it lays out the full range at once, so you can see exactly what a 10% deposit means in dollars on a given price, and how that compares with the standard 20% most banks expect from owner-occupiers or the roughly 30% expected of residential property investors. Enter the purchase price, your available deposit, and whether you are buying to live in or to rent out, and the calculator shows your deposit percentage and resulting LVR, checks that against the applicable Reserve Bank standard, and flags whether a new build exemption or Kainga Ora's First Home Loan could apply if you sit below it. It updates instantly as you type, with no need to press a button. This is useful for buyers scoping out how much they need to save before approaching a bank, for anyone comparing a standard deposit against a lower-deposit path, and for investors checking their deposit against the tighter standard applied to rental property lending. It applies the general RBNZ settings only, not any individual bank's specific credit policy or pricing, so treat the result as a planning guide and confirm your actual borrowing position with a lender or mortgage adviser.
Exemptions: New build construction or purchase, and Kainga Ora First Home Loans, are generally exempt from the standard LVR speed limits.
First Home Loan: Minimum deposit 5%, currently offered through Westpac, Kiwibank and SBS Bank (source: Kainga Ora).
First Home Grant: Closed to new applications from 22 May 2024 (Budget 2024) and not modelled here.
Last verified: July 2026, against current Reserve Bank of New Zealand macroprudential policy settings and Kainga Ora guidance.
Source data: Reserve Bank of New Zealand, macroprudential policy overview and Kainga Ora, First Home Loan.
| Deposit Band | Deposit $ | Loan $ | LVR | What it means |
|---|---|---|---|---|
| 30% | $0.00 | $0.00 | 70% | Typical investor deposit standard |
| 20% | $0.00 | $0.00 | 80% | Standard owner-occupier deposit |
| 15% | $0.00 | $0.00 | 85% | Below standard; limited bank high-LVR allowance |
| 10% | $0.00 | $0.00 | 90% | Rare outside new-build or Kainga Ora lending |
| 5% | $0.00 | $0.00 | 95% | Kainga Ora First Home Loan minimum only |
What Counts as Your Deposit
Your deposit is the cash you are contributing toward the purchase price yourself, as opposed to the amount you are borrowing. It typically comes from savings, a KiwiSaver first home withdrawal, the sale proceeds of an existing property, or a gift from family. The remainder of the purchase price becomes your loan amount. Deposit percentage and loan-to-value ratio (LVR) describe the same split from two directions: a 20% deposit is the same loan as an 80% LVR, and the two figures always add up to 100%.
The RBNZ's Loan-to-Value Ratio Restrictions
The Reserve Bank of New Zealand restricts how much of each bank's new mortgage lending can go to borrowers with a small deposit, as one of its macroprudential tools for managing risk in the housing market. Under current settings, banks can write no more than 20% of their new owner-occupier lending to borrowers with less than a 20% deposit, that is, above 80% LVR. This is a bank-wide speed limit rather than a ban on any individual application, so a deposit below the standard does not automatically rule a loan out, but it does mean the loan competes for a limited allowance, and banks tend to reserve that allowance for borrowers with strong compensating factors such as very stable income.
Owner-Occupiers vs Investors: Different Deposit Standards
Residential property investors face a higher deposit bar than owner-occupiers, generally needing around 30% of the purchase price rather than the 20% standard for a home you will live in yourself. Investment lending is treated as higher risk under Reserve Bank settings, both because rental property debt tends to be more concentrated across a smaller number of highly leveraged borrowers, and because rental income can be more variable than a wage or salary. If you are buying a property that will be part owner-occupied and part rented out, ask your lender how they classify the loan, since this determines which standard applies.
New Builds Are Treated Differently
Loans for the construction or purchase of a new build are generally exempt from the standard RBNZ LVR speed limits. In practice this means a lender may be willing to accept a smaller deposit on a new build than on an equivalent existing property, since that lending does not count against the bank's restricted high-LVR allowance. Individual bank policy still applies on top of this exemption, so confirm the detail with your lender rather than assuming any new build automatically qualifies for low-deposit terms.
Low-Deposit Options: Kainga Ora's First Home Loan
Eligible first home buyers can access a deposit as low as 5% through Kainga Ora's First Home Loan, currently offered through Westpac, Kiwibank and SBS Bank. The scheme is exempt from the standard LVR restrictions, which is what allows participating lenders to approve it outside their normal high-LVR allowance. It comes with its own eligibility criteria around income caps, house price caps and prior property ownership, which are not modelled in this calculator. Separately, the First Home Grant, which previously paid up to $5,000 for an existing home or $10,000 for a new build, closed to new applications from 22 May 2024 under Budget 2024 and has not been reinstated, so it should not be included in your deposit planning. See our First Home Grant status page for what remains available.
Worked Example
Consider a $750,000 purchase. At the standard 20% owner-occupier deposit, that is $150,000 down and a $600,000 loan, an 80% LVR. If the same buyer were purchasing as an investor, the roughly 30% standard would mean a $225,000 deposit and a $525,000 loan, a 70% LVR, $75,000 more cash needed than the owner-occupier standard. At the other end of the scale, an eligible first home buyer using Kainga Ora's First Home Loan at the 5% minimum would need just $37,500 down, borrowing $712,500 at a 95% LVR, a much smaller cash hurdle but a substantially larger loan carrying interest for longer. The same $750,000 price produces a $37,500 to $225,000 deposit range depending entirely on which band applies to your situation, which is why checking your own numbers against the right standard matters before you start house hunting.
Who This Calculator Is For
This calculator suits anyone budgeting toward a deposit and wanting to see the real dollar difference between common LVR bands, first home buyers weighing a standard 20% deposit against a lower-deposit path like Kainga Ora's First Home Loan, and investors checking their deposit against the tighter standard applied to rental property lending. It is a planning tool rather than a lending decision, since actual approval also depends on income, existing debt, and a bank's own credit policy.
What This Calculator Assumes
- An owner-occupier deposit standard of 20% (80% LVR) and an investor standard of around 30%, reflecting current RBNZ settings rather than any single bank's specific policy.
- A Kainga Ora First Home Loan minimum deposit of 5%, subject to the scheme's own income, house price and eligibility caps, which are not modelled here.
- New builds are generally exempt from the standard LVR speed limits, but individual lender policy still applies.
- The First Home Grant is closed and is not available to include in deposit planning.
- Results are indicative only and do not constitute financial advice; confirm your actual borrowing position with a lender or mortgage adviser.
Related Mortgage Calculators
- Loan-to-Value Ratio Calculator: a general LVR and mortgage amount calculator for any deposit and price.
- DTI Income Multiple Calculator: check your loan against the other RBNZ mortgage speed limit, the 6x/7x income multiple.
- First Home Buyer Total Cost Calculator: total cash needed including legal fees, LIM, builder's report, valuation and moving costs.
- KiwiSaver First Home Withdrawal Amount Calculator: work out how much of your KiwiSaver balance you can put toward your deposit.
- Mortgage Calculator: work out repayments on the loan amount shown at any band above.
Official NZ sources
This calculator is built from primary New Zealand sources. Always confirm current figures against the official source for your situation:
- Reserve Bank of New Zealand, macroprudential (LVR) policy overview
- Kainga Ora, First Home Loan eligibility and participating lenders
- Inland Revenue (IRD), KiwiSaver first home withdrawal
Frequently asked questions
How much deposit do I need to buy a house in New Zealand?
For a standard owner-occupier home loan, most banks require a deposit of at least 20% of the purchase price, in line with the Reserve Bank's loan-to-value ratio (LVR) restrictions. Investors are generally expected to have a larger deposit, around 30%. Eligible first home buyers using Kainga Ora's First Home Loan can get in with as little as 5%, and new builds are generally exempt from the standard LVR restrictions altogether.
What is the Reserve Bank's LVR restriction?
The loan-to-value ratio (LVR) restriction limits how much of each bank's new mortgage lending can go to borrowers with a small deposit. Banks can write no more than 20% of their new owner-occupier lending to borrowers with less than a 20% deposit, that is, above 80% LVR. It is a bank-wide speed limit rather than a ban on any individual loan, so being below the standard deposit does not automatically mean you cannot get a mortgage.
Do property investors need a bigger deposit than owner-occupiers?
Yes. Investors are generally expected to hold a deposit of around 30% of the purchase price, compared with the 20% standard for owner-occupiers. Banks apply this higher bar because investment lending is considered higher risk and is subject to tighter LVR settings under Reserve Bank policy.
Can I buy a house with a 10% or 5% deposit in New Zealand?
It is possible but limited. Standard bank lending above 80% LVR, meaning less than a 20% deposit, falls inside a bank's restricted high-LVR allowance, so approval is harder and less common. A 5% deposit is generally only available to eligible first home buyers through Kainga Ora's First Home Loan, currently offered through Westpac, Kiwibank and SBS Bank, or via a gifted deposit and guarantor arrangement.
Are new builds exempt from the LVR deposit restrictions?
Generally yes. Reserve Bank policy exempts loans for the construction or purchase of a new build from the standard LVR speed limits, alongside Kainga Ora First Home Loans. This means a lender may accept a lower deposit on a new build than on an equivalent existing property, though individual bank policy still applies on top of the RBNZ settings.
What happened to the First Home Grant?
The First Home Grant, which previously paid up to $5,000 toward an existing home or $10,000 toward a new build, closed to new applications from 22 May 2024 under Budget 2024 and has not been reinstated. It should not be included in deposit planning. The KiwiSaver first home withdrawal and Kainga Ora's First Home Loan remain the main forms of government support for buyers with a smaller deposit.
Does a low-deposit loan cost more?
Often, yes. Loans above 80% LVR commonly attract a low-equity margin or a higher interest rate loading that lenders add to offset their risk, on top of being harder to get approved under a bank's limited high-LVR lending allowance. A larger deposit generally gives access to a wider range of lenders and standard pricing.
How is LVR different from my deposit percentage?
Your deposit percentage and your LVR describe the same loan from two angles. Deposit percentage is the share of the price you are contributing yourself, and LVR is the share you are borrowing, so the two figures always add up to 100%. A 20% deposit is the same thing as an 80% LVR.
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