Check the three-year clock
Count from your very first KiwiSaver contribution. If you are not at three years yet, you know your earliest possible settlement date — plan the deposit around it.
FundfinderFirst home toolkit
Your KiwiSaver is probably your deposit. Here is how much of it you can use.
Three years of membership, $1,000 left behind, and the rest is yours for a first home. Move the sliders to see the deposit you need, what you can withdraw today, and how long the gap takes to close.
Rules checked September 2026. Sources: Kāinga Ora, Inland Revenue and your provider's scheme documents.
Deposit calculator
Everything updates as you move a slider. Nothing is stored.
Your deposit, year by year
The green band is what you could actually withdraw from KiwiSaver. The dashed line is the deposit you need.
Deposit target
$650,000
$75,000
Your contribution rate
$35,000
$8,000
$400
4% a year
Deposit needed
$130,000
Available today
$42,000
Still to find
$88,000
On these numbers you reach $130,000 in about 8 years.
Illustration only. Assumes your employer contributes 3%, the annual government contribution applies, your pay and savings stay flat in real terms, and $1,000 stays in your KiwiSaver account as the rules require. It ignores ESCT, PIE tax variations, lender criteria and house-price movement. Not financial advice.
Can you withdraw? Five conditions
All five have to be true. Read the detail on each — the exceptions matter.
1You have been in KiwiSaver for at least 3 years+
Three years of membership, counted from your first contribution — not from when you picked your current provider or fund. Switching providers does not reset the clock.
2This is your first home+
If you have owned property before, you may still qualify as a 'previous home owner' if Kāinga Ora decides your financial position is similar to a first-home buyer. You apply to Kāinga Ora for that determination before you withdraw.
3You intend to live in the home+
The property must be in New Zealand and be your main home. You cannot use a first-home withdrawal to buy an investment property or a section you do not intend to live on.
4You leave at least $1,000 in your account+
You can take out your contributions, your employer's contributions, the government contribution and all investment returns — but $1,000 has to stay behind to keep the account open.
5You apply through your provider, with time to spare+
Your provider needs a signed request plus your solicitor's details, and funds are paid to your solicitor's trust account — not to you. Allow 10–15 working days, and start before you go unconditional.
Out of date everywhere else
The First Home Grant was stopped on 22 May 2024
The grant used to pay up to $10,000 on top of your KiwiSaver withdrawal. It no longer exists, and First Home Partner (the shared-ownership scheme) also closed. Plenty of blogs still describe both as current — they are not.
What is left is the First Home Loan: a low-deposit loan through participating banks and lenders where you can buy with as little as a 5% deposit, subject to Kāinga Ora income caps and lender approval. Check kaingaora.govt.nz for the current caps before relying on it.
The order to do things in
Move the money somewhere it cannot fall
A deposit you need within two or three years usually does not belong in a growth fund. A 15% drop the quarter before settlement is not a theoretical risk — it happens.
Get pre-approval before you fall in love
Your KiwiSaver withdrawal is only part of the picture. Lenders test your income, debts and expenses, and a First Home Loan has income caps on top of that.
Start the withdrawal paperwork early
Your provider pays the money to your solicitor's trust account, not to you, and needs a signed request plus supporting documents. Ten to fifteen working days is normal.
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First home questions
How much of my KiwiSaver can I actually take out?+
Everything except $1,000 — your contributions, your employer's contributions, the government contribution and all investment returns. Any amount transferred from an Australian super scheme has to stay in.
Can I still get the First Home Grant?+
No. The First Home Grant was stopped on 22 May 2024 and First Home Partner also closed. The main remaining government support is the Kāinga Ora First Home Loan, which lets approved buyers purchase with a 5% deposit through participating lenders.
Can my partner and I both withdraw?+
Yes, if you each meet the conditions in your own right. Two withdrawals for one purchase is common — and it is also common for one person to qualify while the other has not hit three years yet.
I have owned a home before. Am I locked out?+
Not necessarily. Kāinga Ora can determine that you are in a financial position similar to a first-home buyer, which restores access. You apply for that determination before you withdraw, and it takes time, so start early.
Which fund should I be in while saving a deposit?+
Generally something more conservative the closer you get, because certainty matters more than growth once the money has a date attached. Use the fund finder and pick a short timeframe to see the options.
Is this financial advice?+
No. This is general educational information about how the rules work. For advice about your own purchase, talk to a licensed financial adviser, a mortgage adviser and your solicitor.