Let Our Experts Help You With A Home Loan
How much home can you afford? Your dream house could quickly turn into a nightmare if you’re unable to make your mortgage payments on time.
Be prepared and make sure you don’t fall into the debt trap on your mortgage by utilising our free home loan calculator to work out your home loan repayments.
Use our calculator as a guide since the actual details of your financial well being will be based on factors that aren’t so easily captured by a calculator. Regardless of where you stand, our calculator will get you started with a good idea of how much you can afford towards buying a home in New Zealand.
Home Loan Calculator
Our Home Loan calculator is designed to give you an idea of your buying power so you can start looking at your property options in your preferred location. It includes how much you’ll pay in monthly mortgage repayments so you can plan ahead without breaking the bank.
Your loan estimates are just the beginning. Reach out to our MyFuture financial advisers for in depth, personalised advice on the next steps including how to save for your deposit and repayments efficiently, how to create more wealth, and connect you to the best mortgage opportunities.
How Much Do I Need For A Home Loan In New Zealand?
The property market in New Zealand is constantly in flux. With recent spikes in house prices, there are opportunities to borrow from your bank with as little as a 5-10% deposit. We can determine whether you meet the criteria for a Kāinga Ora First Home Loan which could enable you to buy your first home with only a 5% deposit. There are also other assistance options through KiwiSaver schemes which are worth exploring.
Keep in mind that the lower your initial deposit, the more risk there is to both the borrower and lender. If you take out a mortgage for more than 80% of the property’s value, you’ll likely have higher interest rates or fees to cover the higher risk that the lender faces in case you default.
To reduce this risk, lenders typically require a minimum deposit of at least 20% of the full house price. If the house is worth $700,000, you would need a deposit of at least $140,000. If you have sold a previous home, you can think about using that money towards paying for your new home.
MyFuture is here to help you make the most of your resources and get you on track to secure a deposit and find you the best mortgage around. Reach out today for a FREE no obligation Discovery Session with our Qualified Financial Advisers.
Get Ahead With Quality Financial Advice
Our Qualified Financial Advisers can help you to get on the property ladder with a tailored savings plan and proven financial expertise.
What is our 6-Step Financial Advice Process?
The 6-step financial advice process is the international benchmark for financial planning. This holistic approach is proven to increase the likelihood of you achieving your financial goals.
Understand Your Decision
We start by understanding your goals, financial position, and the decision you’re trying to make. You may already have done your own research, used AI, listened to podcasts, or compared options. That’s completely fine — our role is to understand where you’re at and where you feel stuck. We do this during a Discovery Session.
Validate, Refine or Rebuild
Next, we review your situation, run the numbers, and assess the options available to you. Sometimes your thinking is on the right track. Sometimes it needs refining. And sometimes a different strategy is required. Our job is to help you make a confident, well-informed decision based on your life, your goals and your long-term financial future.
Take Action
A good decision only matters if it gets implemented. Once you decide on the right strategy, we help you put it in place. Whether that involves restructuring lending, setting up investments, reviewing insurance, updating KiwiSaver, or working with other professionals. We don’t just hand you a plan and leave you to figure it out. We're here with you for the entire journey.
Stay Accountable
This is where long-term progress happens. We continue to monitor your position, review your strategy, and help keep you accountable as life changes. Whether interest rates move, your income changes, you receive an inheritance, buy a property, or simply need guidance on the next decision, we’re here to help you stay on track.
Frequently Asked Questions