Home Loan Mortgage Calculator

Updated 29 January 2019

​Our Mortgage Calculator Makes The Numbers Clear
Our calculator shows you what a mortgage costs, shows what your repayments will be weekly, fortnightly and monthly and shows the total costs of repaying your mortgage.

Mortgage Calculator

Principal & interest Interest only

Principal is the amount borrowed or still owing on a loan.

Interest is the charge you pay for borrowing money, usually expressed as an annual percentage of the principal (p.a.).

Interest only is when your payments cover only the interest owing on the loan amount outstanding. This means the outstanding loan balance (principal) will not reduce.

Mortgage Amount

Loan Length

Interest Rate

Payments Per Year

Monthly Fortnightly Weekly

Mortgage Payment

-

---

Mortgage Amount

-

---

Total Interest

-

---

Total Cost

-

---

Our calculations are based on the assumption that you make the same fixed mortgage repayment for the entire loan period, the interest rate does not increase or decrease, you don't miss any repayment deadlines, overpay or underpay.

Q: How much should I borrow to buy a house?

A: We recommend spending no more than 25% to 30% of your monthly pre-tax income on your mortgage. For example, if you earn $80,000 a year, that's around $1,667 to $2,000 per month. This leaves you money for essential expenses and everyday items, such as living costs, house repairs and insurance, council rates bills, utilities and any body corporate charges. Check our how much can I borrow mortgage affordability calculator for more details.

• Our guide to mortgages explains everything you need to know to make the right decision and has a list of best-buy deals.
• Read our guides covering essential tips for buying a house, KiwiSaver HomeStart Grant and KiwiSaver First-Home Withdrawal.
• Saving money on house insurance is easy with our house insurance guide.
• Know how to boost your credit score to get the best deals on other loans.