TOOLS / HOME & MORTGAGE
A clearer picture of
your mortgage.
NZ Mortgage Repayment Calculator
Explore your repayments, the cost of interest, and what a change in rates could mean.
One home.
More informed questions.
LET’S CHECK THOSE NUMBERS
Update your inputs
Correct the highlighted fields to see your estimate.
YOUR ESTIMATED REPAYMENT
per month
Your deposit covers the house price. No mortgage is needed for this purchase price.
An estimate, not a bank quote. Total repayments exclude your deposit and other home-buying costs.
A LITTLE CHANGE. A DIFFERENT PAYMENT.
What if rates move?
Compare a 1 percentage point change, with the same loan and term.
Each scenario keeps its rate constant for the entire loan term.
How we calculate your estimate
We model a fully amortising principal-and-interest loan with equal payments at the end of each period. There are 52 weekly, 26 fortnightly or 12 monthly payments per year.
Periodic rate r = annual rate ÷ 100 ÷ payments per year. Number of payments n = years × payments per year. Payment A = P × r ÷ [1 − (1 + r)−n], where P is the loan principal. At 0% interest, A = P ÷ n.
Total repayments = A × n; total interest = total repayments − P. Full precision is retained during calculations; displayed currency is rounded to the nearest cent. A bank’s cent-rounded instalments and final payment may differ. Displayed totals can differ slightly from multiplying the displayed payment.
Changing frequency recalculates the payment using the matching periodic rate. Weekly and fortnightly figures are not accelerated payments obtained by dividing a monthly payment by four or two. The lower-rate comparison is floored at 0%.
We assume a constant rate and term, no fees, extra repayments, repayment holidays, offset balances or interest-only periods. Banks may calculate interest daily and use actual dates, different compounding conventions and rounding. Fixed rates may expire before the loan term ends. Actual bank repayments and total interest can differ.
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