New Zealand Mortgage Calculator
Estimate your monthly home loan repayments in seconds. Enter your loan amount, interest rate and term to see a full repayment breakdown.
How mortgage repayments are calculated
Your monthly repayment is based on three things: how much you borrow, your interest rate, and how many years you take to repay it. A longer term lowers your monthly repayment but increases the total interest you pay over the life of the loan.
Fixed vs floating rates in NZ
Most New Zealand banks offer fixed rates (locked for 1–5 years) and floating rates (which move with the OCR). This calculator assumes a constant rate for the full term — useful for comparing offers, but your real repayments may change if you're on a floating rate or refix partway through.
Frequently asked questions
How much deposit do I need for a mortgage in NZ?
Most lenders require at least 20% for an owner-occupier home, though some low-deposit options exist for first home buyers with as little as 5-10% deposit, often with extra fees.
Does this calculator include fees?
No. It estimates principal and interest only. Bank fees, insurance and rate changes over your term aren't included.
What's the difference between principal and interest?
Principal is the amount you originally borrowed. Interest is the cost the bank charges you for lending it. Each repayment covers a mix of both.