First Home Buyer

First Home Partner Explained: Kāinga Ora Shared Ownership (and Where It Stands Now)

Last updated: July 2026

First Home Partner was Kāinga Ora's shared-ownership scheme: you bought a home together with Kāinga Ora, then bought out its share over time. It is now fully subscribed and closed to new applications — but 5% deposit First Home Loans, KiwiSaver withdrawals and family guarantees remain open paths in 2026.

How First Home Partner worked

Under the scheme, households who could service a mortgage but couldn't reach a full deposit bought a home jointly with Kāinga Ora. You owned most of the home and lived in it; Kāinga Ora held an equity share (not a loan — a share of ownership). Participants committed to buying out the Crown's share as their finances allowed, with the goal of full ownership within 15 years.

Current status: closed to new applicants

The scheme is fully subscribed and no longer accepting new applications, and the Progressive Home Ownership Fund behind it closed to new commitments in mid-2024. Kāinga Ora continues supporting existing participants through their buy-out journey. If you were hoping to apply: that door is shut, but it was never the only door.

If you're already in the scheme

  • Your obligations (owner-occupancy, insurance, buy-out milestones) continue as per your shared-ownership agreement.
  • When you refinance or restructure your bank loan, the Kāinga Ora equity share must be accounted for — use an adviser who has seen these structures before.
  • Buying out the Crown's share is often funded by a loan top-up as your equity and income grow; we can model when that becomes affordable.

Open alternatives in 2026

PathDeposit neededHow it works
Kāinga Ora First Home Loanfrom 5%Underwritten low-deposit lending via participating banks, with eligibility caps
KiwiSaver first-home withdrawalboosts your depositWithdraw nearly all your balance (leave $1,000) after 3 years' membership
Family guaranteecan reach ~0–10% cashParents pledge limited equity in their home as additional security
New-build purchaseoften 10–20%New builds are exempt from LVR and DTI caps, so banks have more room
Standard 10% lending10%Main banks lend above 80% LVR within RBNZ speed limits — strong files win these slots

Most successful low-deposit purchases we arrange combine two or three of these — for example KiwiSaver + First Home Loan, or KiwiSaver + family guarantee.

Frequently asked questions

Can I still apply for First Home Partner in 2026?

No. The scheme is fully subscribed and closed to new applications. Existing participants continue under their agreements.

What replaced First Home Partner?

No direct replacement exists. The practical alternatives are the First Home Loan (5% deposit), KiwiSaver withdrawal, family guarantees, and new-build lending exemptions.

I'm in First Home Partner — can I refinance my bank loan?

Generally yes, but the Kāinga Ora equity share adds complexity. Get advice from a broker familiar with shared-ownership structures before changing anything.

How do I buy out Kāinga Ora's share?

Typically via savings or a home-loan top-up as your income and property equity grow. Kāinga Ora sets the process; your bank funds the buy-out if servicing allows.

Keep Reading

Related NZ mortgage resources

First Home Buyers HubEvery scheme and strategy for NZ first home buyers.KiwiSaver Withdrawal GuideUse your KiwiSaver for the deposit properly.Family Guarantee Case StudyHow a guarantee got one family over the line.

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