Mortgage affordability
See how much you can borrow, your monthly repayments, and deposit requirements.
Your details
Enter your financial details to calculate affordability
First home buyer
Enables KiwiSaver first home withdrawal
Max borrowing power
Loan exceeds borrowing limit
Your loan of $550,000 is $40,000 above the DTI-6 limit. Consider increasing your deposit or income, or choosing a lower-priced property.
Max borrowing = annual income × 6 (DTI). Individual bank limits may vary.
LVR — Loan to Value Ratio
Deposit as a percentage of property value
Deposit: 15.40% of property price
Low equity premium
Additional cost while LVR > 80%
+$4,125/yr
To reach 20% deposit
Eliminates low equity premium
+$30,000
LVR restrictions may apply. Most lenders require 20% deposit for standard lending. Conditions vary by lender and property type.
Repayment breakdown
Principal & interest vs interest-only
Principal & interest
Pays off your loan
Monthly
$3,752Fortnightly
$1,732
Interest only
Covers interest, not capital
Monthly
$3,323Fortnightly
$1,534
Total interest
$801k
over full term
% of income
52.97%
monthly gross
Total repaid
$1.4M
principal + interest
High repayment burden
Repayments are 52.97% of your gross monthly income. Most lenders prefer under 40%.
KiwiSaver first home withdrawal
Use your KiwiSaver savings towards your first home
You're eligible for a KiwiSaver first home withdrawal
KiwiSaver withdrawal
Balance minus $1,000 retained
$24,000
Eligibility requirements
- First home purchase
- 3+ years KiwiSaver contributions
- NZ property for principal residence
- $1,000 must remain in your account
The HomeStart Grant was discontinued in May 2024. KiwiSaver first home withdrawal and the First Home Loan (5% deposit via Kainga Ora) remain available.
This is not financial advice. Borrowing power estimates are indicative only and based on a DTI-6 multiplier. Individual bank policies, credit assessments, and responsible lending obligations will determine your actual borrowing capacity. Always speak with a mortgage adviser.