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 months4.79% | 4.79% | $725 | $1,131,194 |
| 1 year4.99% | 4.99% | $742 | $1,157,416 |
| 2 years5.29% | 5.29% | $767 | $1,197,289 |
| 3 years5.59% | 5.59% | $793 | $1,237,794 |
| 5 years5.75% | 5.75% | $807 | $1,259,650 |
| Floating5.69% | 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.
Ask a broker which term suits meWhy 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.
Want a broker to find your home loan rate?
Two short steps, then one licensed broker who handles home loans calls you back. Nothing reaches your credit file until you apply.
This is not a loan application.