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New Zealand Mortgage Calculator

See your weekly, fortnightly or monthly home loan repayment, how much interest you will pay over the loan and how much extra repayments save you.

$
$

20% deposit · 80% loan-to-value

%
years
More options· Principal and interest, Monthly
$

Added to every repayment

Monthly repayment

$3,220.93

$600,000 loan over 30 years

Total interest
$559,535
Total repaid
$1,159,535
What you pay over the loan
  • Amount borrowed$600,000
  • Interest$559,535

What this means

Over 30 years you’d pay $559,535 in interest, on top of the $600,000 you borrow, if the rate stayed the same.

Early on most of each repayment is interest, so overpaying a little each month cuts the total and the time it takes. Check for early repayment charges on fixed rates first.

Next step

Principal and interest paid each year
$38,651$19,326$0
136912151821242730
PrincipalInterest
Assumptions in this estimate
  • Assumes the same interest rate for the whole loan, with interest calculated each repayment period. Most fixed rates last a set period, then you refix or move to floating.
  • Low-equity fees, legal costs and other buying costs are not included. New Zealand has no stamp duty.
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How your repayment is calculated

Each repayment covers the interest charged since your last repayment, and the rest reduces your loan. Early on, most of each repayment is interest; later, most of it pays down the loan. The chart shows how this changes year by year.

Fixed and floating rates

Most New Zealand home loans are fixed for a set period, then refixed or moved to the floating rate, so your repayment will change over the life of the loan. The calculator assumes one rate for the whole term; try a few rates to see the range.

Other costs of buying

Low-equity fees, legal fees, building inspections and insurance are not included.

Last updated

Frequently asked questions

Are fortnightly repayments better than monthly?

Paying fortnightly means 26 repayments a year, and interest is charged on a lower balance more often. If you pay half your monthly repayment every fortnight, you make the equivalent of 13 monthly repayments a year and pay off the loan sooner.

What are the repayments on a typical New Zealand home?

REINZ's national median house price was $750,000 in August 2026. With a 20% deposit, a $600,000 loan over 30 years at 5% costs about $3,221 a month or $1,486 a fortnight, and about $560,000 in interest over the life of the loan.

What are mortgage rates in NZ right now?

In August 2026, the Reserve Bank's figures show average rates on new home loans of 4.70% fixed for 1 year, 4.99% fixed for 2 years and 5.85% floating. Your rate depends on the bank, the term you fix for and the size of your deposit.

How much deposit do I need?

For a home you'll live in, a loan above 80% of the value counts as high-LVR lending under the Reserve Bank's rules, and banks can make only up to 25% of their new owner-occupier loans this way. So most buyers need a 20% deposit, and a smaller one usually costs more through a low-equity margin or fee. You may be able to use your KiwiSaver savings towards your first home.

Is there stamp duty in New Zealand?

No. New Zealand has no stamp duty on buying property. Your main buying costs are legal fees, a building inspection and any bank fees.