Mortgage Calculators

Use our mortgage calculators to make smarter decisions that save you money in the long-run, work out how much you can borrow, what repayments you'd be looking at and whether or not you should refinance.

Could you be saving money on your mortgage?

Try out our refinance calculator to see if you cauld save on interest or get cash immediately by refinancing to a new bank.

Tell us about your home loan

What bank are you with?

This is how much is left to pay on this portion of your mortgage.

Lender is required
Property Value
Check the value at homes.co.nz
Property Value is required
How much do you still owe?
Property debt is required
Property Type
Property Type is required
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Great, tell us a little more

Did you receive a cashback when you received your loan?

This is a cash contribution provided by your bank which would have been a percentage of your loan amount.

Answer is required
When did you start your loan with {{ Lender.value.label }}?

Tip: Cashbacks are generally clawed back if switching banks within 3 years of setting up your mortgage with your current bank.

Answer is required

It doesn’t make sense to refinance right now.

Based on the equity you have in your property, the numbers aren’t stacking up to refinance. You need at least 20% equity as an owner or 40% equity as a property investor.

Refinance Calculator

To help us figure out whether now is a good time to refinance, enter your home loan details.

If your mortgage is split into different fixed terms and rates, enter details for the first portion and then hit the add another loan button at the bottom of the page.

Loan {{index + 1}}
{{ row.LoanType.value }} {{ row.InterestRate.value }}
{{ row.OriginalFixedTerm.value }} months Term
{{ row.LoanBalance.value }}
Break Fees -

Details for loan portion {{index + 1}}

Loan Balance

This is how much is left to pay on this portion of your mortgage.

Loan Balance is required
Loan Type
Loan Type is required
Start Date

The date you fixed this loan at its current rate. Not sure when that was? For {{Lender.value.label}} you’ll need to look through your loan’s statements. When the rate changed last is the start date for this loan.

The date you fixed this loan at its current rate. Not sure when that was? We can work this out for you based on the fixed termand end date.

The date you fixed this loan at its current rate. Not sure when that was? For {{Lender.value.label}} you can find this in your internet banking, in the account details.

The date you fixed this loan at its current rate. Not sure when that was? For {{Lender.value.label}} you’ll need to look through your loan’s statements. When the rate changed last is the start date for this loan.

The date you fixed this loan at its current rate. Not sure when that was? For {{Lender.value.label}} you’ll need to look through your loan’s transactions. Go back as far as you can, and the beginning of the transactions is when this loan was fixed.

The date you fixed this loan at its current rate. Normally found in your loan’s statements or your account details for the loan.

or
Fixed Term
The end date selected is not within the fixed term.
Fixed term or start date required
End Date

This is when your current fixed term is due to end. For {{Lender.value.label}} you can find it in your internet banking, in your loan’s account details as ‘Fixed rate review date’.

This is when your current fixed term is due to end. For {{Lender.value.label}} you can find it in your internet banking in your loan summary, as ‘Fixed Interest Expiry Date’.

This is when your current fixed term is due to end. For {{Lender.value.label}} you can find this in your internet banking, in the loan statement.

This is when your current fixed term is due to end. For {{Lender.value.label}} you can find this in your internet banking, in the loan statement under payment details.

This is when your current fixed term is due to end. For {{Lender.value.label}} you can find it in your internet banking, in your loan’s account details under Interest rate.

This is when your current fixed term is due to end. Normally found in your loan’s statements or under your account details for the loan.

End Date is required
Interest Rate
Interest rate is required
Repayment Frequency
Repayment frequency is required
Repayment Amount
This value is required
{{ apiError }}
Refinancing could save you* Refinancing could cost you* ${{ numberWithCommasAbsolute(customerResults.totalSaving) }}

*Savings are indicative only, actual saving amount may differ. *Costs are indicative only, actual amount may differ.
You could get an immediate cashback of ${{ numberWithCommasAbsolute(customerResults.netSaving) }} and save ${{ numberWithCommasAbsolute(customerResults.interestSavingsTerm) }} over the remainder of your fixed terms, After expenses of ${{ numberWithCommasAbsolute(customerResults.netSaving) }} you will save ${{ numberWithCommasAbsolute(customerResults.interestSavingsTerm) }} over the remainder of your fixed terms, You could get an immediate cashback of ${{ numberWithCommasAbsolute(customerResults.netSaving) }}, but will have to pay ${{ numberWithCommasAbsolute(customerResults.interestSavingsTerm) }} more interest over the remainder of your fixed terms, You will have to pay ${{ numberWithCommasAbsolute(customerResults.netSaving) }} and pay ${{ numberWithCommasAbsolute(customerResults.interestSavingsTerm) }} more in interest, paying {{customerResults.newInterestRate}}% p.a.

How much could you save?

Cashback Available ${{ numberWithCommasAbsolute(customerResults.cashBack) }}
Break Fees ${{ customerResults.breakFee }}
Bank Fees ${{bankFees}}
Clawback Fee $0 TBC* ${{ numberWithCommasAbsolute(customerResults.clawback) }}

*Due to switching banks within 3 years, you’ll be charged the orginal cashback amount.

Interest Savings** Interest Costs** ${{ numberWithCommasAbsolute(customerResults.interestSavingsTerm) }}
Cash After Fees Total Fees ${{ numberWithCommasAbsolute(customerResults.netSaving) }}

If you want to refix with your current bank you will not incur legal fees or clawback fees and you will not be eligible for cashback. All other estimated costs remain the same.
** Interest is calculated by comparing the interest you could be paying vs the interest you are paying currently for the remainder of each fixed term. For floating loans, interest is calculated as the difference between the floating rate and fixed rate for a year.

How much can I borrow for a house?

We'll quickly work out how much you could borrow towards purchasing a home, just tell us a little about your financial situation.

Joint or individual application?

Income

Annual Income (before tax)*

Dependants

Number of children under 18
Monthly school/childcare costs

Vehicles

Number of vehicles

What will my Mortgage repayments be?

Work out your regular repayments and how quickly you could pay off your home loan.

Borrow Amount
Interest Rate
Term
Frequency

Keen to talk to a mortgage expert?

How Lenders assess your affordability

Lenders test your ability to afford a mortgage by looking at your repayments over a 30 year term, based on a test mortgage rate of around 7.0%.

Lenders will include 100% of your PAYE income, or the average of the past two year's business income if you're self-employed. For investment properties, lenders will include 75% of the rental income. For owner-occupied properties, lenders have varying boarder income policies however you can typically count on up to two boarders at $150 each per week.

The other big factor when it comes to affordability is disclosure of expenses, which get assessed on a more granular level. Living expenses are assumed around $800 per adult per month and $400 per child along with allowances for insurance, rates, utilities and cars.

Lenders are looking for affordability to be evident in account conduct and bank behaviour. For a first home buyer, the amount you save plus your rent plus discretionary expenses is a good indication of how much you can afford.

Tips to increase how much you can borrow

Generally avoid having consumer finance debt, but regardless reduce your credit card limits. Lenders will apply a monthly amount of 3% of your limit to your expenses. So if you have a $30,000 credit card limit that will have an implied monthly expense of $900.

Debt and borrowing power: Key things to know

Generally avoid having consumer finance debt, but regardless reduce your credit card limits. Lenders will apply a monthly amount of 3% of your limit to your expenses. So if you have a $30,000 credit card limit that will have an implied monthly expense of $900.

Debt and borrowing power: Key things to know

For borrowers wanting shorter-term flexibility. Popular when mortgage rates are rising as it tends to be the cheapest or when rates are falling so borrowers aren't locked in long term.