Kāinga Ora First Home Partner scheme makes it easy to buy your first home. For some people, even when they have the help of a first home loan – which lowers your required deposit to just 5% – the deposit value may still be just out of reach.
The solution to this is that Kāinga Ora can make a contribution towards the payment of your home. For example, let’s say Kāinga Ora contributes 15% towards the home, they will then receive 15% ownership of the property, too.
The way in which the First Home Partner scheme works is different for everyone and depends on:
1. How much deposit you have.
2. How much the bank will lend you.
3. What contribution Kāinga Ora makes.
Check out the video below where David explains the finer details in full!