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Mortgage Calculator - Calculate Your Repayments

Our calculator shows you what a mortgage costs, what your repayments will be weekly, fortnightly and monthly and the total costs of repaying your mortgage. Enter your loan amount, interest rate and loan length to determine what you need to pay and how much you can afford.
Updated 4 September 2024
How to use our mortgage calculator:
  1. Enter the amount you wish to borrow ('Mortgage Amount')
  2. Slide or enter the number of years you want your mortgage ('Loan Length)
  3. Adjust the interest rate to match the market
  4. Select how you often you wish to make repayments - i.e. monthly, fortnightly or weekly

Mortgage Calculator

Mortgage Amount
Loan Length
Interest Rate
Payments Per Year
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.

Video explainer
MoneyHub's Head of Research, Christopher Walsh, explains how our calculator works in the video below, as well as highlighting must-know facts and considerations:

Ready to Re-Mortgage or Apply for a Home Loan?

Consider a Mortgage Broker - They Usually Save Time and Money

​Mortgage brokers are popular and don't charge a fee. Their service goes beyond what a bank offers by comparing a number of lenders to find the best deal for your circumstances.

We've shortlisted top-rated mortgage brokers who go the distance for their clients in select cities around New Zealand:

How much should I borrow to buy a house?

General practice suggests 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.

Mortgage Essentials:
Other Mortgage Options: