Advanced Mortgage Calculator
This advanced New Zealand mortgage calculator will help you find out the true cost of your mortgage per payback period as well as taking into account additional payments, as well as, future interest rate exposures by informing you of the cost of the mortgage should the interest rate switch. This calculator also highlights the benefit of the impact that only a slight increased payment per month will have on the overall loan amount paid and the time taken to clear the loan. This mortgage calculator also has a full drop-down amortization calculator to show the respective proportional payment you will make per year of the loan. To use the mortgage calculator below simply enter the value that applies to your loan for the fields in the green box below and then press calculate.
Calculation Results (Standard)
Calculation Results (Additional Payment)
Potential Interest Rate Fluctuation Exposure
This mortgage calculator will provide transparency over both your payments per period as well as helping you visualize what your current principal to interest payment ratio is. An example is a property costing $500,000 with a $100,000 deposit, at 5.00% over 30 years, you will only break the principal to interest threshold in favour of principal in year 20. This means that for the first 20 years of a 30-year mortgage, the larger portion (by Dollar value) of your payment is servicing interest owed. By adding in even a small additional monthly payment this can be adjusted to not only be paid off faster but with less paid overall in interest.
Talking to a mortgage broker will allow you to negotiate lower interest rates with the bank or lending provider which will help lower both the amount paid per payback period as well as over the lifetime of the mortgage.
This calculator assumes that the loan term and loan interest rates are consistent across the entire duration of the loan.
This calculator assumes that all additional payments will be made with the same consistency across the entire duration of the loan.
This calculator does not adjust the values for inflation or for relative buying power.
In this calculator, there are 52.179 weeks per year on average [365.25/7] and therefore 26.089 fortnights per year (weeks * 2).
In this calculator, there are 4.348 weeks per month on average ([365.25/12]/7) and therefore 2.174 fortnights per month (weeks * 2).
In this calculator, all repayments and amounts saved are rounded to the nearest cent.
In this calculator, repayment periods are rounded to the nearest year with 1 decimal place.
This mortgage calculator is meant to be used as a guide only.