PHOTO: The Welcome Home Loan and HomeStart grant will now only require a five per cent deposit under KiwiBuild reset changes.
The Welcome Home Loan and HomeStart grant will now only require a five per cent deposit under KiwiBuild reset changes.
The Government-backed supports – available for all first-home buyers, not just KiwiBuild buyers – have seen major changes as part of the reset.
Currently the Welcome Home Loan allows first home buyers under an income cap of $85,000 (or $130,000 for a couple) to receive a Government-backed loan of with a 10 per cent deposit, if buying properties priced under a certain cap. (All KiwiBuild homes fall under the cap).
The HomeStart grant currently gives first-home buyers a $10,000 grant to help with their deposit on a first home under similar income caps and price caps, if the buyers have been with KiwiSaver for five years.
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