Kiwisaver Grant.
Do you qualify for the KiwiSaver programme? Find Out
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KiwiSaver HomeStart grant
If you’re a first-time buyer and you’ve been making regular KiwiSaver contributions for at least 3 years, you may be eligible to apply for a KiwiSaver HomeStart grant through Housing New Zealand.
How it works
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If you buy an existing home, you can get $1,000 for each year you’ve paid into the scheme. The most you can get is $,5000 for 5 years.
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If you buy a new home or land, you can get $2,000 for each year you’ve paid into the scheme. The most you can get is $10,000 for 5 years.
If you buy a property with other people who qualify for a KiwiSaver HomeStart grant, you can all apply but the most you can get for one property is:
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$10,000 for an existing property.
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$20,000 if you buy a new home or land for a new home.
Who can apply
- be 18 or older
- have been contributing at least the minimum amount of your income (currently 3%) to your KiwiSaver scheme for 3 years
- have had an income in the previous 12 months (before tax) of less than:
- $85,000 for 1 person
- $130,000 for 2 or more people
- have a deposit of at least 10% of the purchase price
- agree to live in your property for at least 6 months:
- from the date you buy your home (the settlement date), or
- if the house is new, when the code compliance certificate is issued.
Welcome Home Loan
With a Welcome Home Loan, you might be able to get a home loan if you only have a 10% deposit. How much you can borrow depends on where you live in New Zealand and what you can afford.
You get a Welcome Home Loan from a bank or other lender — not all banks and lenders offer this option. Housing New Zealand underwrites the loan. Before you can get a loan you need to meet the criteria set by the government and your lender.
For the government to approve your loan, you must:
- have a 10% deposit
- buy a house that costs no more than the maximum price for your region — the regional cap
- have income before tax in the last 12 months of no more than:
- $85,000 per year if you’re single
- $130,000 per year if 2 or more of you are buying a house together.
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