KiwiSaver First Home Calculator New Zealand
Estimate your KiwiSaver withdrawal, check your deposit gap, and follow the step-by-step process. Withdraw your entire balance minus $1,000 after 3 years of membership.
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How to Use This Calculator
Tab "Withdrawal Estimate"
Enter your current KiwiSaver balance and years as a member. The calculator shows how much you can withdraw (your balance minus the required $1,000), whether you meet the 3-year eligibility requirement, and what is included in the withdrawal amount.
Tab "Deposit Gap"
Enter your property price, KiwiSaver withdrawal amount (pre-filled from Tab 1), and other savings. See your total deposit, deposit as a percentage of the purchase price, your Loan-to-Value Ratio (LVR), and how far you are from a 20% deposit. If you have 5–20%, the calculator flags your eligibility for the Kāinga Ora First Home Loan.
Tab "Step-by-Step"
Follow the 5-step process from eligibility check through to settlement, including critical timing requirements. The funds are always paid to your solicitor's trust account — not to you directly.
The Formulas
Available withdrawal = KiwiSaver balance − $1,000
(The $1,000 must remain in your account permanently)
Eligibility:
Minimum membership = 3 years contributing
Must be a first home buyer (or second-chance buyer via Kāinga Ora)
Property must be in New Zealand and you must intend to live in it
Deposit calculations:
Total deposit = KiwiSaver withdrawal + other savings
Deposit % = Total deposit ÷ Property price × 100
LVR = (Property price − Total deposit) ÷ Property price × 100
Gap to 20% = (Property price × 0.20) − Total deposit
Deposit thresholds:
20% deposit → standard bank lending, no LMI required
5–20% deposit → eligible for Kāinga Ora First Home Loan
Below 5% → lending generally not available
Note: First Home Grant was discontinued May 2024 — not included in any calculation.
Rules from Inland Revenue (IRD), KiwiSaver Act 2006, and Kāinga Ora. Rates current as at 2026.
Example — Sarah Buying Her First Home
Sarah, 28 — $45,000 KiwiSaver, 5 years membership, buying a $600,000 home
Sarah has been in KiwiSaver for 5 years and has built up a $45,000 balance. She is buying her first home for $600,000 and also has $20,000 in savings.
Sarah has a 10.7% deposit — above the 5% minimum for the Kāinga Ora First Home Loan but below the 20% threshold for standard lending. She applies for the First Home Loan and a participating bank approves her mortgage with a 10.7% deposit. She applies to her KiwiSaver provider 5 weeks before settlement. The $44,000 is paid directly to her solicitor's trust account.
KiwiSaver First Home — Key Facts
| Item | Detail |
|---|---|
| Minimum membership | 3 years contributing |
| Withdrawal amount | Entire balance minus $1,000 |
| What's included | Employee + employer contributions + govt contributions + investment returns |
| $1,000 retained | Must remain in account — cannot be withdrawn |
| Payment method | Direct to solicitor's trust account (never to buyer) |
| Processing time | 10–20 business days |
| Apply how early | 4–6 weeks before settlement |
| First Home Grant | Discontinued May 2024 — no longer available |
| First Home Loan | Still active — 5% deposit via Kāinga Ora |
| Second-chance buyers | Apply to Kāinga Ora; assets test applies |
| Governing law | KiwiSaver Act 2006 |