NZ First Home Buyer Calculator (KiwiSaver & Kainga Ora)
This calculator checks whether you qualify for the two main supports left for first home buyers in New Zealand: the KiwiSaver first home withdrawal and the Kainga Ora First Home Loan. You enter your KiwiSaver membership length and current balance, whether you have owned a home before, whether you are buying alone or with a partner, your target property price and type (existing or new build), your annual gross income, and any other savings set aside for a deposit. From there it works out how much KiwiSaver you can withdraw, since you need at least three years' membership and must leave a $1,000 minimum balance behind. It then tests your income against the Kainga Ora income caps to show whether you likely qualify for a 5% deposit under the First Home Loan, against a standard 20% deposit. Finally, it combines your KiwiSaver withdrawal and other savings into a full deposit structure, showing what you have available against what you need, and whether you have a surplus or a shortfall. Results also flag that the old First Home Grant was discontinued in May 2024, so it plays no part here, and list typical extra costs such as legal fees and building inspections to budget for. Figures are indicative only, so confirm current income caps and eligibility rules with Kainga Ora or your KiwiSaver provider before relying on them.
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Property & income
First Home Grant (HISTORICAL - DISCONTINUED)
The First Home Grant (originally called the KiwiSaver HomeStart Grant) was discontinued at 1pm on 22 May 2024. No new applications have been accepted since then. If you see websites still describing how to apply for the grant, they are out of date. The grant provided:
- $1,000 per year of KiwiSaver membership (3+ years), up to $5,000 for existing homes.
- $2,000 per year, up to $10,000, for new builds or vacant land to build on.
- Income cap around $95,000 single / $150,000 couple.
- Regional house price caps that varied by location.
Government saved $245 million over four years by discontinuing the grant. $140 million was redirected to fund approximately 1,500 new social housing places.
KiwiSaver First Home Withdrawal - what you can and can't take
Can withdraw: your contributions, employer contributions, government contributions (including the annual member tax credit / government contribution), all investment returns.
Cannot withdraw: amounts transferred from an Australian complying superannuation scheme, and you must leave at least $1,000 in the account.
Eligibility: 3+ years KiwiSaver membership (across any schemes), buying your first home (or qualifying under "previous homeowner" via Kainga Ora), intending to live in the property as your main home.
Kainga Ora First Home Loan
The government-underwritten loan lets eligible buyers purchase with only 5% deposit. Offered through Westpac, Kiwibank, and SBS Bank. Low Equity Margin (the extra rate banks charge for low deposits) is capped at 1% of the loan. Income and house price caps apply and vary by region - check Kainga Ora's current criteria. You can use your KiwiSaver withdrawal as the 5% deposit.