Mortgage calculator
See what your repayments could look like
Move the sliders to get a feel for the numbers – what you’d repay each week, fortnight or month, how much interest you’d pay along the way, and what a little extra on each payment could do. It’s a starting point for a conversation, not a pre-approval.
Figures update as you type. They assume a table loan on a single interest rate for the full term, with no fees — handy for comparing scenarios, not a quote.
A quick but important note. This calculator is a guide only. It gives an indicative repayment based on the figures you enter, and assumes a table loan at a single fixed interest rate for the full term with no fees, rate changes or repayment holidays. It does not take your financial situation, goals or borrowing capacity into account, is not an offer of finance, and is not personalised financial advice. All lending is subject to each lender’s criteria. For advice specific to you, please get in touch.
Making sense of the numbers
Three things that move the needle more than most people expect.
Your LVR does the heavy lifting
LVR is the size of your loan next to the value of the property. Sitting at or under 80% generally opens up a lender’s standard rates. Above it, most add a low-equity premium — which is exactly the sort of thing worth planning around rather than discovering late.
Fortnightly beats monthly, quietly
Switch the frequency and watch the total interest shift. Repaying fortnightly usually means a little more goes towards the loan across a year. A small change that compounds over twenty-five or thirty years.
Extra repayments punch above their weight
Every extra dollar comes straight off the loan, so you stop paying interest on it for the rest of the term. Nudge the extra slider and watch the years drop off — it is usually more than people expect.
Questions about the numbers
How accurate is this calculator?
It runs the same table-loan maths a lender does, so the repayment figure will be close. What it cannot see is your income, your other commitments, the test rate a lender applies, or the fees attached to a particular deal. Treat it as a solid estimate rather than a decision.
What deposit do I actually need?
Twenty percent is the number that opens the most doors and avoids low-equity charges. Plenty of people buy with less — First Home Loans, KiwiSaver withdrawals and lender-specific exemptions all exist. Worth checking before you rule yourself out.
Why is my bank’s figure different?
Usually fees, a different rate for a specific fixed term, or a loan split across several rates and terms. This calculator holds one rate across the whole term to keep the comparison clean.
Can I use my KiwiSaver for the deposit?
If you have been contributing for at least three years and meet the criteria, you can generally withdraw most of your balance towards a first home. It is one of the first things to check.
Should I fix or float?
It depends on what you need from the loan — certainty, flexibility, or a bit of both. Plenty of people split it. There is no universally right answer, which is precisely why it is worth talking through.
What is a table loan?
The standard New Zealand home loan. Each repayment covers the interest plus a slice of what you borrowed, and the amount stays the same while your rate does. Early on most of it is interest — that balance flips as the years go on.
Does paying a bit extra really help?
Yes, and usually more than people expect. Because extra payments reduce the loan immediately, you stop paying interest on that amount for every remaining year of the term.
What happens after I use this?
If the numbers land close to what you had in mind — or nowhere near it — that is a good reason to talk. Caleb will look at the full picture and tell you where you genuinely stand.
Ready to turn a number into a plan?
A calculator tells you what a repayment looks like. It can’t tell you what you can borrow, which lender fits your situation, or how to get from where you are to where you want to be. That part is a conversation — and it’s free.