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Buying a home loan with a small deposit is something that a lot of people want to know more about. Many people are interested in understanding how they can buy a home with a deposit as small as 10%.

The good news is we may be able to help you!

It is not uncommon for people to report that they got turned away when visiting a bank about buying a house with a small deposit. Being turned away or rejected can be confusing and cause people to lose hope.

While many banks or lenders prefer to deal with customers that have 20% deposits, there can be alternatives. In today’s property market a 20% deposit can be extremely expensive and hard to save up for. Take, for example, buying a $600,000 house; this might mean saving up 20%, which is $120,000! For most first time buyers, this is a lot of money.

But there is hope! We can help with 10% deposit style home loans. So if all that was required was a 10% deposit then you could buy a house with a lot less money. On a $600,000 house that might mean needing a deposit of just $60,000.

How to get a home loan with a small deposit?

Talk to us about your options. Our professional mortgage broker service can review the current criteria and possibilities.

It may be possible to buy a house with just a 10% deposit under certain circumstances. However this often needs to be approached carefully by a mortgage broker.

Where to get a deposit

Your deposit needs to be genuine. Most people save their deposit and typically use their KiwiSaver to fund the purchase of their own home. They may also receive a HomeStart Grant from the government, though the criteria are very strict. In order to use KiwiSaver and the HomeStart Grant you also need to be living in the home.

If you do not have an adequate deposit yet, consider whether you need to save more in order to afford your first home.

It is also possible to receive a gift from family. The gift needs to be a genuine gift and not repayable over time. Our professional mortgage broker service can also look at how your parents may be able to assist you by being a guarantor or raising some funds from property or houses they own.

Can you get low deposit loans for investment properties?

It is possible but it depends on some very narrow criteria at the time. In some cases you can get an investment property loan with as little as a 10% deposit, however there are strict criteria. If you do achieve a low deposit investment loan, it can be a way of building a rental property portfolio. Talk to us to see if we can help.


Just Financial is a professional financial adviser service and helps you with buying a home, using your KiwiSaver, insurance and more. Ask us to help you with your financial goals.

  • Home loans
  • Using your KiwiSaver
  • Saving money on your mortgage
  • Refinancing or debt consolidation
  • Low interest rates

  • Life insurance
  • Mortgage protection insurance
  • First home buyers
  • Help when the bank says no
  • Construction loans

Get Help From An Award Winning Financial Adviser

Want to buy a house? Looking for an amazing mortgage broker? Buying a house can be a challenging process. With the right advice, this can be made easy. Just Finance provides a professional mortgage broker service that can help you right throughout New Zealand. From first home buyers, to investors, as well as people who already have a house and want to refinance, there are many ways we help.



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