Use our free loan repayment calculator to estimate what your home loan could cost you each week, fortnight or month. Enter your loan amount, interest rate and term, then change the repayment frequency to see how much interest you could save and how quickly you could become mortgage-free. It is a quick way to set realistic expectations before you buy, refix or restructure your home loan in New Zealand.
1. Enter your loan amount, or the price of the home you are considering, less your deposit.
2. Add the interest rate offered by your bank or lender.
3. Choose your loan term, for example, 25 or 30 years.
4. Switch between weekly, fortnightly and monthly to compare your repayment options.
The calculator updates instantly, so you can see how each change affects your repayments and your payoff time.
Paying weekly or fortnightly rather than monthly means you make the equivalent of one extra monthly repayment each year. Over the life of a 30-year loan, that small change can take years off your term and save you thousands in interest. Slide the figures up and down to see the difference for your own numbers.
Determine your potential repayment amounts and the number of years it could take to pay off your home loan.
Increasing your repayments saves you interest and time. See for yourself and slide and save!
This calculator is provided as a guide only and does not take your personal circumstances into account. It is not financial advice.
Interest rates, fees and lending criteria change, so please confirm any figures with your bank or a registered financial adviser before making a decision.
We take pride in guiding our clients with honest advice and building strong
relationships that last well beyond the sale. Browse our current listings or
get in touch to talk through your property goals.
