First Home Buyers
Kāinga Ora First Home Loan
Get into your first home with as little as a 5% deposit — we help you check if you qualify.
Saving a 20% deposit takes years. The Kāinga Ora First Home Loan is a government-supported scheme that lets eligible buyers borrow with a much smaller deposit through approved New Zealand lenders.
Zora Mortgages works with first-home buyers across Christchurch, Canterbury, and nationwide. We check your eligibility, match you with a participating lender, and manage the application from pre-approval through to settlement.
Key features of the loan
5% minimum deposit
Eligible buyers may purchase with as little as 5% of the purchase price — not the 20% most banks require for standard lending.
KiwiSaver can count
Your KiwiSaver first-home withdrawal can form part of your deposit, alongside savings or an approved gift from family.
No property price cap
The scheme no longer sets a maximum house price, giving you more choice in Christchurch, Canterbury, and across New Zealand.
Government-backed pathway
Participating lenders offer the loan under Kāinga Ora rules. A one-off Lenders' Mortgage Insurance premium of 1.2% of the loan may apply and can be added to your loan.
Who can qualify?
Criteria are set by Kāinga Ora and can change. The summary below is a guide only — we confirm your position before you apply.
- 1
First-home buyer (or similar position)
The loan is aimed at people buying their first home. You may also qualify if you previously owned property but are now in a comparable financial position — for example after separation or a major change in circumstances.
- 2
Income within the caps
Your before-tax income over the last 12 months must not exceed: $95,000 for a single buyer with no dependants; $150,000 for a single buyer with dependants; or $150,000 combined for two or more buyers.
- 3
At least 5% deposit
You need a minimum 5% deposit from savings, KiwiSaver (where eligible), a gift, or a combination. We help you document this clearly for the lender.
- 4
Owner-occupier only
The property must be your main home. The Kāinga Ora First Home Loan is not available for rental or investment purchases.
How Zora can help
Kāinga Ora sets the scheme rules, but each participating bank applies its own lending policies on top. That is where a mortgage adviser makes the difference.
- Review your income, deposit, and circumstances against current eligibility rules
- Compare participating lenders and recommend the best fit for your situation
- Prepare and submit your application, including KiwiSaver and deposit evidence
- Stay with you through conditions, valuation, and settlement
Ready to see if you qualify?
A short conversation is enough to know whether the Kāinga Ora First Home Loan is worth pursuing — there is no cost for standard advice.
Your first home starts with a conversation
Call 020 407 48057 or send an enquiry — we are based in Christchurch and work with clients across New Zealand.