How much can I borrow on $165,000 a year in New Zealand?
A home up to about
$1,237,500
On $165,000 a year, you could afford a home up to about $1,237,500 with a 20% deposit of $247,500. The mortgage payment would be about $5,315 a month.
- Deposit
- $247,500
- Mortgage
- $990,000
- Payment a month
- $5,315
How your deposit changes it
| Saved for a deposit | Home up to | Mortgage | Payment a month |
|---|---|---|---|
| $247,500 (20%) | $1,237,500 | $990,000 | $5,315 |
| $424,286 (30%) | $1,414,286 | $990,000 | $5,315 |
How it’s worked out
Reserve Bank rules limit lending to people borrowing more than 6 times their income, counting all their debts. On $165,000 with no other debts, that's $990,000.
Assumes one buyer with no other debts, borrowing up to 6 times their income, at 5% over 30 years. New 2-year fixed home loans averaged 4.99% in August 2026 (Reserve Bank of New Zealand).
- Reserve Bank rules limit lending to people borrowing more than 6 times their gross income, counting all their debts, so this uses 6 times your income less your other debts.
- Most banks need a 20% deposit; lending with less is limited. First home buyers on lower incomes may get a Kāinga Ora First Home Loan with a 5% deposit.
- Banks also test whether you could afford repayments at a higher rate and after your living costs, so you may be offered less.
Frequently asked questions
How much can I borrow on $165,000 a year in New Zealand?
On $165,000 a year, you could afford a home up to about $1,237,500 with a 20% deposit of $247,500. The mortgage payment would be about $5,315 a month.
How much deposit do I need on $165,000?
With $247,500 saved, you could buy a home up to about $1,237,500. With $424,286 saved, you could buy a home up to about $1,414,286.