How Much Can I Borrow? NZ Mortgage Calculator
Enter your gross annual income, your savings and the rate you expect: you'll see how much you could borrow under the Reserve Bank rules, the most expensive property that buys and whether the debt-to-income limit or your deposit sets the limit.
General values (New Zealand). They don't account for regional rules or other costs that may apply. Check them with your lender or advisor.
More options
Enter your income, savings, interest rate and term.
A rough estimate with a fixed payment. Lenders will also look at your other debts and job stability.
Work out the mortgage for this home →Results are estimates. Solvemis accepts no responsibility for the results obtained or for how they are used. Always double-check the result and talk to a qualified professional before making decisions.
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How it works
How to use it
- Enter your gross annual income and the savings you have available.
- Add the interest rate you expect and the term.
- Check the debt-to-income limit (6 times) and the loan-to-value ratio, and if you like add a share of income for the repayment.
- See how much you could borrow, the property price that buys and which limit applies.
How it is calculated
A property price is worked out for each limit and the lowest applies. Debt-to-income: the loan can be at most 6 times gross annual income. Deposit: your savings must cover 20% of the price plus the buying costs. If you fill in a share of income, a limit on the monthly repayment applies too. These are general values for New Zealand. A second applicant's income is added to yours; other debt payments count the way the country's rule counts them.
Sources
- RBNZ Debt-to-Income restrictions activated — Bell Gully
- Loan-to-Value Ratio (LVR) Restrictions in New Zealand — Opes Partners
- Understanding debt to income ratios — BNZ
About this calculator
How it’s calculated
The Reserve Bank sets two main limits on home lending. The debt-to-income ratio: for owner-occupiers, lending at 6 times gross annual income or more is limited to a share of each bank’s loans. The deposit: most owner-occupiers need 20% of the price, plus the buying costs. The calculator works out the property price each limit allows and shows the lowest.
What else banks look at
Banks test whether you could still pay if interest rates rose, and look at your living costs, other debts and dependants. Other debt, such as a car loan or student loan, counts towards the debt-to-income ratio. If you want your own limit on the monthly repayment, fill in a share of income.
Buying costs in New Zealand
There is no stamp duty in New Zealand. Buying costs are mainly legal fees, a building report and a registered valuation. The 1% filled in is a general value: check it with your bank or adviser.
Frequently asked questions
How much can I borrow relative to my income?
For owner-occupiers, the Reserve Bank's debt-to-income rule lets banks lend 6 times gross annual income or more only to a limited share of borrowers. With $120,000 a year, that is about $720,000 of total debt, including any other loans.
How much deposit do I need?
Usually 20% of the price. Banks can lend a share of their owner-occupier loans to people with smaller deposits, often with a low-equity margin or fee.
Does the calculator include the bank's other checks?
No. Banks also test whether you could still pay at a higher interest rate and look at your expenses and other debts, which can mean a smaller loan than here.
What if we buy as a couple, or I already pay other loans?
Under «More options» you can add the second applicant's income, which is added to yours, and what you already pay each month for other loans, cards or leasing. In New Zealand, the limit of 6 times income counts all your debt, so what you still owe on other loans comes off the maximum mortgage.
Updated 14 October 2026
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