---
title: "First Home Loan Calculator NZ: 5% Deposit | Compare Loans"
description: "A $700,000 first home with a 5% deposit: $832 a week over 30 years at 4.99% fixed, Kāinga Ora's 1.2% insurance added. Checked 21 Oct 2026."
canonical: https://compareloans.co.nz/first-home-loan-calculator/
source: Plain-text copy of https://compareloans.co.nz/first-home-loan-calculator/. The HTML page is the original and has the live calculators and the enquiry form.
---

# First home loan calculator NZ

See the repayment with a 5% deposit, the Kāinga Ora insurance added to the loan, and the income cap that applies to you.

## What does a bigger deposit save?

A 20% deposit saves you $140 a week on a $700,000 home, and $217,942 over 30 years. You need $140,000 in cash for it instead of $35,000, and you pay no Kāinga Ora insurance.

| Deposit | Each week | Paid back in total |
| --- | --- | --- |
| 5% ($35,000), insurance added | **$832** | $1,298,197 |
| 20% ($140,000), no insurance | **$692** | $1,080,255 |

Estimate only, not a quote or an approval. Your rate depends on your credit and the lender. Rates checked 21 Oct 2026.

[Compare First Home Loan lenders](https://compareloans.co.nz/home-loans/first-home/)

## Questions about first home loans

### How much deposit do I need for a first home?

5% with a Kāinga Ora First Home Loan, which is $35,000 on a $700,000 home. Your KiwiSaver can count toward it.

### What is the First Home Loan income cap?

$95,000 a year before tax if you're buying alone with no dependants. It's $150,000 if you're buying with someone else, or if you have dependants.

### What is the Kāinga Ora insurance fee?

A one-off fee added to the loan: 1.2% at most participating lenders and 1.00% at Kiwibank. On a $665,000 loan that's $7,980.

### How much more does a 5% deposit cost than 20%?

$140 a week more, on a $700,000 home over 30 years at 4.99%. You'd pay back $217,942 more in total.