New Zealand Mortgage Repayment Calculator

Important notice

For general information and educational use only. This calculator is not financial, mortgage, legal or tax advice, personalised financial advice, a recommendation, a lender affordability or suitability assessment, a pre-approval, an offer of finance, or a guarantee of eligibility or acceptance.

Any LVR or DTI result is only a simplified comparison with current Reserve Bank high-LVR and high-DTI thresholds. Those rules limit portions of a bank's new lending, contain exemptions and do not replace each lender's criteria, valuation, income treatment, debt definitions or affordability assessment.

Do not make an offer on a property, sign an agreement or make another financial commitment based only on this estimate. Confirm repayments, fees, break costs, lending criteria and all property costs with the lender and appropriate licensed financial, legal or tax professionals.

If you do not keep up with mortgage payments, the lender may ultimately sell your home through a mortgagee sale and you may still owe any shortfall and costs.

Important limits

This version models one table loan with equal repayments, periodic compounding and one constant annual rate for the full loan term. In New Zealand a fixed-rate period is normally shorter than the total term. It does not model a later refix, floating-rate changes, split fixed and floating loans, revolving credit, offset accounts, interest-only periods, repayment holidays, cashback, redraw, daily interest, lender rounding, break fees or fixed-rate extra-repayment limits.

It does not calculate borrowing capacity, pre-approval, serviceability or eligibility. A lender uses its own valuation, verified income and expenditure, debt definitions, credit information, buffers and product criteria. LVR and DTI restrictions include exemptions and apply to portions of banks' new lending. Low-equity margins or fees can also apply.

The table-loan formula and Reserve Bank reference points are nationwide. Council rates and some property costs vary by local authority and property, while legal work, valuation, building inspection, insurance, body corporate levies and maintenance vary by provider or property. No local amount is invented here; enter a confirmed estimate. KiwiSaver, Kāinga Ora schemes, tax treatment and bright-line or other tax rules are outside this calculator; confirm them with the relevant provider or licensed professional.