Mortgage calculator

Thinking of buying a home?
Use our simple mortgage calculator to help work out your costs.

This calculator is intended as a guide/illustration only. All amounts entered by you are assumed not to vary and are valid only at the time of entry. Calculations are based on a table repayments term loan. Actual loan repayment amounts may vary slightly due to rounding. Calculations are based on the interest rate selected being constant for the entire term of the loan.

Understanding types of ownership

There are four main types of property ownership in New Zealand – freehold, leasehold, unit title and cross lease.

Learn more about the types of ownership

Understanding the sale and purchase agreement when buying

This is a legally binding contract between you and the seller when you buy a property.

Read more about sale and purchase agreements

Your bank deposit

The bank deposit is the initial money you’ll need if you borrow money from a bank or other lender to purchase a property. Most lenders require first home buyers to have a deposit of at least 20% of the amount you are borrowing.

Read more about saving a bank deposit

Conditional pre-approval

It’s a good idea to arrange conditional pre-approved finance with your chosen lender before you start looking at property to buy. Conditional pre-approval lets you know the price range you can buy in.

Read more about conditional pre-approval

Government help to buy your first home

You may be able to get government help to buy your first home if you're a KiwiSaver member, purchasing in certain areas, want to buy a house owned by Kāinga Ora or are Māori and want to live on your ancestral land.

Read more about government help for home buyers

Getting help from friends and family

If you have family who would like to assist you to buy your first home, this can be helpful if you’re able to meet the repayments on a home loan, but don’t have the bank deposit.

Read more about getting help from friends and family to buy a home