---
title: "Mortgage Calculator NZ: Weekly Repayments | Compare Loans"
description: "Mortgage calculator NZ: $742 a week on a $600,000 home loan over 30 years at 4.99% fixed, $1,157,416 paid back in total. Bank rates checked 21 Oct 2026."
canonical: https://compareloans.co.nz/mortgage-calculator/
source: Plain-text copy of https://compareloans.co.nz/mortgage-calculator/. The HTML page is the original and has the live calculators and the enquiry form.
---

# Mortgage calculator NZ

See the repayment at today's lowest bank rates, the total by the end of the term, and what a rate rise would add each week.

## What does $600,000 cost at each fixed term?

The 6-month rate is the cheapest today at $725 a week. The 5-year rate costs $82 a week more and buys you five years without a rate change.

| Fixed for | Lowest rate (p.a.) | Each week | Paid back in total |
| --- | --- | --- | --- |
| 6 months | 4.79% | **$725** | $1,131,194 |
| 1 year | 4.99% | **$742** | $1,157,416 |
| 2 years | 5.29% | **$767** | $1,197,289 |
| 3 years | 5.59% | **$793** | $1,237,794 |
| 5 years | 5.75% | **$807** | $1,259,650 |
| Floating | 5.69% | **$802** | $1,251,434 |

$600,000 over 30 years, weekly, as if the rate held for the whole loan. Sources: ANZ, ASB, BNZ, Westpac, Kiwibank, TSB, SBS Bank and the Co-operative Bank rate pages, checked 21 Oct 2026.

## Why does the rate matter so much on a mortgage?

Because the rate works on a big balance for up to 30 years. Every 0.25 point on $600,000 over 30 years is about $21 a week.

Banks publish their rates, and a broker can ask a bank to beat its published rate. Bring the rate you get back into the calculator to see your own figure.

## Questions about mortgages

### How much is a $500,000 mortgage a week in NZ?

$618 a week over 30 years at 4.99% p.a. fixed, with $964,514 paid back in total. That's the 1-year rate at ANZ, ASB and TSB, and your repayment changes when you refix.

### How much income do I need for a $500,000 mortgage?

Most bank lending has to stay within 6 times your income before tax, so $500,000 of debt needs about $83,334 a year on that rule alone. Banks also check you could pay at a higher test rate and count your living costs, so many people need more.

### Is it cheaper to pay weekly or fortnightly?

Barely. On $600,000 over 30 years at 4.99%, weekly costs $240 less in total than fortnightly ($1,157,416 against $1,157,656). Pick the one that matches your pay.

### What if rates go up when I refix?

Each point adds about $87 a week on a $600,000 loan. Try your rate plus 1 or 2 points before you commit.

### Can I pay my mortgage off faster?

Yes. On a fixed loan, ANZ lets you add up to $250 a week and a 5% lump sum a year, BNZ and Kiwibank 5% a year, and TSB up to $10,000 a year without a break fee (checked 21 Oct 2026). $50 extra a week on $500,000 with 25 years left at 4.99% saves $54,302 in interest. Put your own amount in "Extra each week" above.

### What is an interest-only home loan?

You pay only the interest for a set time, so the loan doesn't shrink. When that time ends, repayments rise to pay it off over the years left. A bank decides whether to offer it.

### How much more does interest-only cost?

Two years interest-only on $600,000 at 4.99% costs $16,442 more over 30 years, and five years costs $42,653 more. After two years the repayment rises to $765 a week, against $742 if you'd paid it down from the start.