How much can I borrow?
Run your numbers to see what your income, deposit and commitments support.
- Your borrowing range
- What limits it
- What it could cost
- Send it to yourself
Put your numbers in
Leave anything you don’t have at zero.
Per year, before tax
Per year, before tax
Pick your contribution rate. It comes off your pay, so it changes what you can borrow.
Food, power, transport, phone. Not rent, loans or insurance.
Started at $2,220, the minimum for your household. Spend more? Change it.
And what else goes out
Per month, on the new home.
Per month, if you have any.
Childcare, school fees, board. Not loan repayments.
Savings, KiwiSaver, family help. All of it goes in.
Changes the repayment, not what you can borrow.
What you already owe
The total limit, not what you owe.
Your monthly payments.
Your monthly payments.
Your monthly payments.
Indicative maximum
- Loan
- $930,000
- Purchase price
- $1,050,000
What your income supports
That loan plus your deposit
Your deposit of $120,000 is 11% of that price, so the LVR is 89%.
This is what a lender could stretch to, not what you should take on.
Repayments would take 55% of your take-home pay. High risk.
All these figures are indicative and not guaranteed. For a real assessment, talk to a mortgage adviser or your bank directly.
What it costs a month
$5,333
at 5.59%
$6,187 $854 more a month
if mortgage rates hit 7%
Repayment pressure
55% of your take-home pay
High risk- Comfortableto 30%
- Manageable30–40%
- Stretched40–50%
- High risk50%+
Your take-home pay: $9,643 a month
- Mortgage $5,333 55%
- Left to live on $4,310 45%
If mortgage rates hit 7%, the repayment takes 64% and leaves $3,456 to live on.
Examples by repayment pressure
Priced from your pay, not from the lender’s ceiling.
| Pressure | Mortgage a month | Loan | Home price | LVR |
|---|---|---|---|---|
| Comfortable30% of pay | $2,893 | $504,000 | $624,000 | 81% |
| Manageable40% of pay | $3,857 | $672,000 | $792,000 | 85% |
| Stretched50% of pay | $4,821 | $840,000 | $960,000 | 88% |
These are payments, not limits. A lender would go to $930,000, with the repayment at 55% of your take-home pay. The rows above are what the same income buys at a repayment you would choose.
Above 80% LVR a bank adds a low-equity margin to your rate or a one-off fee. Each lender sets its own. Under 10% down, some banks lend directly and others through the First Home Loan.
Your five next steps
Before you make an offer.
- 1Set your own limit. Work out your budget and the repayment pressure you'd be comfortable with. Your number, not the lender's.
- 2Pin down your real deposit. Your actual KiwiSaver balance, and any family help confirmed in writing.
- 3Optimise your spending. Lenders assess what you actually spent in the last 90 days, not your budget.
- 4Check your card limits. Every $10,000 of limit costs about $57,000 of borrowing power, used or not. You don't have to cut them, but know what they cost.
- 5Talk it through with a specialist. A mortgage adviser or your bank. Structure, lender choice, and the options a calculator never sees.
Who you’d talk to
Lena Bykova
Financial Adviser with 20+ years’ experience across finance, business valuation, and investment analysis. About Lena
Thirty minutes. No cost, no obligation.
Want this in writing?
I can send you these numbers.
Your numbers, and 10 Ways to Pay Your Mortgage Off Faster with them. The things that actually move the number, in the order worth doing them.
How much deposit do you actually need?
Twenty percent is the best place to buy from, but not the only one.
20%+
The standard
No low-equity margin and every lender open to you. The cheapest money you'll be offered.
10–20%
Common, and more expensive
Mostly first home buyers. Expect a low-equity margin and fewer lenders.
5–10%
Possible, with conditions
Some banks lend here directly, others through the First Home Loan (Kāinga Ora). A higher LVR, so a higher margin.
Two lenders will give you two different numbers.
Lender, rate and loan structure all change the answer.
What this calculator assumes
Common lending practice, not any one bank’s rules. Nothing here is guaranteed, and every lender applies its own.
- Stress test. Repayments are tested at 7% over 30 years.
- Loan cap. Six times your gross income, where most bank lending stops for a home you'll live in. A rental is assessed differently.
- Take-home pay. After income tax, ACC and your KiwiSaver contribution.
- Living costs. Never below a minimum for your household size and income.
- Cards, BNPL and overdrafts. 3.8% of the limit a month, used or not.
- Deposit. All of it goes into the price. Settlement costs are often covered by a lender's cashback; check with your adviser.
This is a guide, not advice. The figures are indicative, based on general assumptions, and not an offer of finance. What you can actually borrow is confirmed by a lender after a full application.