Quick Answer: The First Home Grant closed to new applicants in May 2024, so it's no longer available. The main government support left for first-home buyers in 2026 is the First Home Loan (5% deposit lending backed by Kāinga Ora), the KiwiSaver first-home withdrawal, and — for Kāinga Ora tenants specifically — the Tenant Home Ownership grant.
The First Home Grant Is Gone
If you've heard of the First Home Grant — a cash payment of up to $10,000 that used to be available to eligible first-home buyers — it's worth knowing upfront that the scheme closed in May 2024 and isn't accepting new applications. Buyers approved before it closed can still receive their payment, but anyone starting their first-home journey now needs to look at what's still on offer instead.
The good news: the two most valuable pieces of support — the First Home Loan and the KiwiSaver first-home withdrawal — are both still active, and for many buyers worth more than the old grant ever was. Neither requires years of prior KiwiSaver membership or an existing bank relationship to get started, which makes them realistically available to almost anyone beginning from scratch.
It's a common source of confusion, since older blog posts and even some bank pages still reference the grant as if it's current — always check the date on anything you read about first-home support, since this is one of the areas of NZ property advice that has changed the most in the last two years. Government support for buyers shifts with almost every Budget cycle, so it pays to double-check current settings even if you researched this a year ago.
Comparing What's Still Available
Here's how the three schemes still standing in 2026 compare:
| Scheme | What it gives you | Who qualifies |
|---|---|---|
| First Home Loan | 5% deposit lending (vs the usual 20%) | Income $95k (one buyer) / $150k (two-plus, or one with dependents) |
| KiwiSaver first-home withdrawal | Most of your KiwiSaver balance (min. $1,000 stays in) | 3+ years' KiwiSaver membership, buying to live in |
| Tenant Home Ownership grant | 10% of purchase price, up to $20,000 | Current Kāinga Ora tenants, outside main cities |
Most buyers combine at least two of these — a KiwiSaver withdrawal toward the deposit, and a First Home Loan to reduce how much deposit is needed overall — making the combined effect considerably more valuable than either scheme used alone. Note that eligibility for the First Home Loan and the Tenant Home Ownership grant is assessed separately, so check each on its own merits rather than assuming one disqualifies you from the other.
None of these three schemes are mutually exclusive with ordinary bank lending either — they sit on top of a standard home loan application, not instead of one, so the right starting point is still a conversation with a mortgage adviser or your bank about which combination fits your situation.
$20,000
3 years
Quick Summary
- First Home Grant: gone. Closed to new applicants since May 2024 — don't budget around it.
- First Home Loan: still active. 5% deposit lending via participating banks, subject to income caps.
- KiwiSaver withdrawal: still active. Available after 3+ years of membership, for buyers who'll live in the property.
- Combine where you can. Most support schemes can be stacked together — check eligibility for each.
Quick FAQ: Key Terms Explained
What was the First Home Grant?
The First Home Grant was a Kāinga Ora cash payment (up to $10,000 for an existing home, more for a new build) available to eligible first-home buyers. It closed to new applications in May 2024.
What is a First Home Loan?
A First Home Loan is low-deposit (5%) home loan lending backed by Kāinga Ora and issued through participating banks, for eligible first-home buyers within set income caps.
What is the Tenant Home Ownership grant?
It's a Kāinga Ora grant worth 10% of the purchase price (up to $20,000) for eligible tenants buying the specific state house they currently live in, outside the main high-demand centres.