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Welcome Home Loan

A Welcome Home Loan can get you into your first home with only 10% deposit.

  • Some or all of your deposit can be gifted by a family member.
  • There are limits on how much you can earn and how much you can borrow.
  • You can still choose how to structure your loan — with a fixed rate, a variable rate, an offset mortgage or a combo of these.
  • We were the first New Zealand bank to offer the Welcome Home Loan, and we’re committed to continuing to help Kiwis into their first homes.

How it works

  • Apply if your income is less than $80,000 a year — or less than $120,000 a year if you’re buying a house with someone else.
  • The amount you can borrow depends on where you live — check out Housing New Zealand’s website to see how much you could spend.
  • You’ll need to live in the home you buy — you can’t use a Welcome Home Loan if you already own a home or to buy an investment property.
  • You can’t have already owned a home.

You might have to pay a low equity fee — this is a fixed amount that’s worked out based on how much deposit you have. You can choose to pay it up front or add it to your loan.

You may also be able to use your KiwiSaver to put towards the purchase of your first home. Or if you’re ready to apply for a home loan, click here.

Lender’s mortgage insurance applies. Kiwibank (and Welcome Home Loans) lending criteria, terms and conditions, and fees apply. Revolving Credit, Overdraft, and Interest Only home loan options are not available.


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