Mortgage Repayment Calculator

Calculate your home loan repayments - weekly, fortnightly, or monthly

Loan Details

Loan Amount

Interest Rate (%)

Loan Term (years)

Big-5 NZ Bank Rates (May 2026)

1-year fixed:4.65% – 4.75%

2-year fixed:5.19% – 5.29%

3-year fixed:5.35% – 5.55%

Floating:5.75% – 5.89%

Your Repayments

Weekly

$729

Fortnightly

$1,459

Monthly

$3,160

Total amount to repay$1,137,722

Total interest paid$637,722

Save Money Tip

Paying fortnightly instead of monthly means you make 26 payments per year (equivalent to 13 monthly payments). This can save you thousands in interest and years off your mortgage.

Compare Loan Terms

20 years

$3,728/mo($394,688 interest)

25 years

$3,376/mo($512,811 interest)

30 years

$3,160/mo($637,722 interest)

Mortgage Repayment FAQs

How much are mortgage repayments on $500,000?

At 6.5% interest over 30 years, a $500,000 mortgage costs approximately $3,160/month, $1,456/fortnight, or $729/week. Rates and terms affect this significantly.

Is it better to pay weekly or monthly mortgage?

Paying weekly or fortnightly can save interest because you make 26 fortnightly payments (equivalent to 13 monthly payments) instead of 12. This can shave years off your mortgage.

What is the average mortgage repayment in NZ?

With average house prices around $800,000 and typical borrowing of $640,000, most NZ homeowners pay $4,000-$4,500/month at current rates.

How much do I need to earn for a $600,000 mortgage?

For a $600,000 mortgage, you typically need a household income of $100,000-$120,000 per year to meet bank stress testing requirements.

Can I make extra repayments on my mortgage?

Yes, most NZ mortgages allow extra repayments. Fixed rate loans may have limits (often 5% extra per year), while floating rates typically have no restrictions.

Important: how to read this information

This website is operated by Evolve Group Limited (FSP711891), a Licensed Financial Advice Provider regulated by the Financial Markets Authority (NZ). The information published here is general in nature and is not personalised financial advice. For personalised advice that takes your circumstances into account, request to be matched with one of our licensed mortgage advisers via the enquiry form.

Rate accuracy. Rates shown across this site were observed at 21 May 2026, 12:27 pm from each lender's published carded-rate page (linked per row). If a lender has updated their rates since that timestamp, the authoritative source is the lender's page, not our derived snapshot. Carded rates are advertised rates — the rate you ultimately receive depends on your application.

Calculator outputs. Any figures produced by calculators on this site are mechanical estimates — they do not factor in establishment, legal, valuation, or break fees, and they assume a constant interest rate over the chosen term. For fixed-rate periods the rate typically resets at the end of the term. Treat calculator outputs as indicative only.

CCCFA + Responsible Lending Code. Final lending decisions are made by the lender under the Credit Contracts and Consumer Finance Act 2003 and the MBIE Responsible Lending Code. Lenders apply servicing-test rates (typically around 8% post-2023), debt-to-income caps (RBNZ DTI 6× owner-occupier / 7× investor from 2024), and Loan-to-Value Ratio limits. Carded rates are not an offer or a pre-approval.

Disputes. If you have a complaint about advice received through this site, contact Financial Services Complaints Limited (FSCL) on 0800 347 257 or info@fscl.org.nz.

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