How Much Can I Borrow in New Zealand?

Enter your income, savings and other debts, and your partner's income if you're buying together, to see how much you could borrow under the Reserve Bank's limits and the price it lets you buy.

Your yearly income

Before tax

Partner’s income

If you’re buying together

Savings for a deposit

Other debts you owe

In total, including student loans and credit card limits

More options· 5% over 30 years

Interest rate

Term

years

New 2-year fixed home loans averaged 4.99% in August 2026 (Reserve Bank of New Zealand).

You could afford a home up to

$750,000

$600,000 mortgage + $150,000 deposit

Mortgage payment: $3,221/mo
Most you can borrow: $600,000

Mortgage$600,000
Deposit$150,000

Your income sets the limit: lenders lend up to 6× your income, which is $600,000.

See this home in the mortgage calculator

What this means

The mortgage payment would take about 39% of your income before tax.

This is the most lenders’ rules allow, not what’s comfortable. Buying below it leaves room for saving, repairs and higher rates when your deal ends.

Next step

See the monthly payments

Monthly costs at this price

	Per month	Per year
Mortgage payment	$3,220.93	$38,651.16
Total	$3,220.93	$38,651.16

How it’s worked out

Price your income allows: $750,000
Price your savings allow: $750,000
Most you can borrow: $600,000

Assumptions in this estimate

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.

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How the calculator works

It finds the highest price where:

Your debts stay within 6 times your income: the mortgage plus your other debts is no more than 6 times your gross income (combined, if you’re buying together).
Your savings cover a 20% deposit.

Whichever limit you hit first sets your price.

Other costs

New Zealand has no stamp duty, but you’ll pay legal fees, a building inspection and any bank fees. You may be able to use your KiwiSaver savings towards your first home.

See the repayments on any home in our mortgage calculator.

Last updated October 13, 2026

Frequently asked questions

How much can I borrow on $100,000 a year?

Up to 6 times your income, so about $600,000 if you have no other debts. With a 20% deposit of $150,000, that buys a home up to $750,000, with repayments of about $3,221 a month at 5% over 30 years.

What are the debt-to-income limits?

Since 1 July 2024, banks can only make 20% of their owner-occupier lending to people whose total debts are more than 6 times their gross income. All your debts count, including credit card limits.

How much deposit do I need?

Usually 20%. Banks can only make 25% of their new owner-occupier lending to people with less than a 20% deposit. First home buyers on lower incomes may get a Kāinga Ora First Home Loan with a 5% deposit.

Will the bank lend me this much?

Not always. Banks also test whether you could afford repayments at a higher rate, and look at your living costs. Use this as a guide, then talk to a bank or mortgage adviser.