New Zealand calculator
Home Loan Calculator NZ
Start with the property price and the deposit you have saved. This calculator works out how much you need to borrow, your loan-to-value ratio, and what the repayments look like at your chosen rate and term.
Last reviewed by NZ Calculator:
How much deposit do I need for a home loan in NZ?
Most New Zealand banks look for a 20% deposit on an owner-occupied property. Lending above 80% of the property value is classed as low-equity and is limited by Reserve Bank loan-to-value ratio restrictions, usually with a low-equity margin or fee added to the rate. Some borrowers get in with less through First Home Loan, Kāinga Ora or a family guarantee.
Your purchase details
Your home loan estimate
A repayment estimate only. It is not a lender quote and does not assess how much you can borrow.
How loan-to-value ratio works in New Zealand
LVR is the loan amount divided by the property value. Borrow $640,000 against an $800,000 house and your LVR is 80%. The Reserve Bank of New Zealand limits how much low-equity lending banks can write, which is why a deposit under 20% usually means a tighter approval process and a low-equity margin on your interest rate.
| Deposit | LVR | What it usually means |
|---|---|---|
| 20% or more | 80% or less | Standard lending, advertised rates |
| 10% – 19% | 81% – 90% | Low-equity lending, margin or fee likely |
| Under 10% | Over 90% | Restricted; often needs First Home Loan, Kāinga Ora or a guarantor |
Costs this calculator does not include
Your deposit has to stretch further than the loan gap. Budget separately for legal fees, a builder's report, LIM report, moving costs, insurance and any low-equity fee capitalised onto the loan.
Fixed versus floating
The calculator assumes one rate for the whole term. In practice most New Zealand borrowers fix for one to five years and refix at whatever rate is available then, so treat the total interest figure as a planning number rather than a forecast.
NZ sources: Reserve Bank — lending standards · Consumer Protection — mortgages and home loans.
Frequently asked questions
How much deposit do I need to buy a house in NZ?
Banks generally want 20% of the purchase price for an owner-occupied home. Lending above 80% of the value is restricted and usually carries a low-equity margin, though First Home Loan and Kāinga Ora options can allow a smaller deposit.
What is LVR?
Loan-to-value ratio is the size of the loan compared with the value of the property. A $600,000 loan on a $750,000 house is an 80% LVR.
How much can I borrow for a home loan?
This calculator works out repayments for a loan amount, not your borrowing capacity. Banks assess borrowing power using income, expenses, existing debts, the test interest rate and their own lending criteria.
Should I pay weekly, fortnightly or monthly?
Weekly and fortnightly repayments spread the cost and, if they add up to more per year than twelve monthly payments, they shorten the loan. Check with your lender how the schedule is actually applied.
What is the difference between a home loan and a mortgage?
In everyday use they mean the same thing. Strictly, the home loan is the borrowing and the mortgage is the security registered over the property.
Do I need a builder's report and LIM?
They are not compulsory, but most buyers get them before going unconditional. Budget for them separately from your deposit.
Why is the bank's repayment figure different?
Lenders calculate interest daily, apply fees, split loans across fixed and floating portions and use their own rounding. This calculator uses a single fixed rate for the whole term.
Can I use this for an investment property?
The repayment maths is the same, but LVR rules, deposit requirements and tax treatment differ for investment lending. Get specific advice before relying on the numbers.