How much can I borrow?

Use this home loan calculator as a guide to find out how much you may be able to borrow, based on your current income and expenses.


About this calculator

This borrowing calculator is intended as a guide only.  In order to calculate how much you could borrow, we need to base our calculation on an interest rate. In this example, we have used the current Residential Owner Occupied rate for our Classic home loan. This borrowing calculator does not provide financial advice, and is not a quote or an offer of finance by BNZ. This borrowing calculator does not express any opinion or recommendation as to whether you should acquire a home loan. If you apply for a home loan, you’ll need to complete a full application and provide more information to us, and you may get a different result to this calculator.

How the calculator works

We’ve had to make some assumptions to calculate the approximate amount you could borrow:

  1. Your situation, including your income and expenses, doesn't change for the life of the loan.
  2. When calculating what you may be able to afford, we take the living expenses and personal circumstances you've advised, and will use a ‘test’ interest rate which is higher than our advertised rates, to take account of the fact that interest rates are likely to change over time.

We’ve had to make some assumptions to calculate your approximate repayments:

  1. There are no changes to the loan amount and you don’t borrow any extra on this loan.
  2. You don’t make any additional lump sum repayments or increase your regular repayments above the standard repayments (but you could choose to do this to reduce the term and interest charges, if your loan allows).
  3. You make all your repayments in full and on time.
  4. The interest rate remains the same for the term of your home loan. Note that in reality, interest rates are likely to change over time.
  5. The interest on your home loan is calculated daily and charged fortnightly, over the term of your loan.
  6. Your repayment amounts are calculated on a “principal and interest” basis for the term of the loan.
  7. Actual amounts may vary slightly due to rounding.

Information about applying for a home loan

If you want to apply for a home loan, you’ll need to complete a full application and provide more information to us about you and the property you intend to buy, and any home loans you have with other providers that you’ll continue to repay.

All home loans are subject to our lending criteria (including minimum equity requirements), terms and fees. Interest rates are subject to change. An establishment fee of up to $150 may apply.

A Residential Owner Occupied rate or Residential Investor rate will apply. Find out more. If you entered into a home loan before 23 October 2018 and haven’t been advised that your loan is moving to one of the above interest rate types, see applicable rates here.

Due to amendments to the Overseas Investment Act 2005 which came into effect on 22 October 2018, all non-resident purchasers must complete a Residential Land Statement to say whether they are eligible to buy residential property in New Zealand. There are significant penalties under the Act for not complying and your lending approval may be withdrawn. You should seek independent advice if you are unsure if you comply with the Act.