First home loan calculator NZ
See your repayment with a 5% deposit and the Kāinga Ora insurance added, 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.
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Ask a broker which lender fits my depositQuestions 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.
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