Simple Mortgage Calculator

This calculator is provided as part of our partnership with Calculate.co.nz.

Embarking on the property journey in New Zealand, whether as a first-time buyer or a seasoned investor, requires a clear understanding of the financial commitments involved. Our Mortgage Calculator is a user-friendly tool that helps to demystify the financial aspects of property ownership.

This calculator is tailored to accommodate various data inputs relevant to the New Zealand property market, ensuring you get a comprehensive view of your potential mortgage obligations. Here's how you can make the most of it:

Property Price: Begin by entering the price of the property you are interested in. This figure forms the basis of your mortgage calculation.

Loan Deposit: Indicate the percentage or the amount of deposit you have saved. In New Zealand, the deposit amount can significantly influence your loan terms and interest rates.

Loan Term: Set the duration of your loan. Most Kiwis opt for a 30-year term, but you can adjust this according to your financial plan.

Loan Interest Rate: Enter the interest rate you anticipate. Interest rates vary, so it is wise to research the current trends and predictions in the New Zealand market.

Loan Payment Frequency: Choose how often you’d like to make repayments – monthly payments are common, but some prefer fortnightly or weekly to align with their income cycle.

Council Rates Per Year: Council rates are a key part of property ownership in New Zealand. Include the yearly amount to factor these into your overall costs.

Property & Mortgage Insurance Per Year: Insurance is crucial for protecting your property. Enter the annual cost of your property and mortgage insurance.

Apartment Body Corp Fees Per Year: If you’re buying an apartment, include the yearly Body Corporate fees, which cover building maintenance and other shared services.

With these details the Mortgage Calculator provides a detailed breakdown of your potential repayments and the overall cost of your loan. This insight is invaluable for making informed decisions, helping you to plan your finances effectively as you navigate New Zealand’s real estate landscape.