Next home calculator

Things to know about this calculator

This calculator is aimed at buyers intending to live in at least one of the properties.

**Your indicative debt-to-income (DTI) ratio is based on the details you've provided, and the amount you may be able to borrow. The debt calculation however doesn’t factor in any student or non-home loan debts as the calculator doesn't collect the outstanding balance of these debts. If you have this debt, it'll increase your DTI. Where you’ve provided overdraft, credit or store card limit details, these limits will be factored in the debt calculation.

Please note this calculator doesn’t apply DTI restrictions, therefore the amount you may be able to borrow may differ from the results displayed.

Result assumptions

• If you’re selling the property, to keep things simple, there are no costs associated with the sale (e.g. real estate and legal fees) or settling your loan (e.g. a fixed rate break fee cost). Realistically there will be costs.
• A minimum borrowing amount against the new property.

Repayment amount assumptions

• *The interest rate selected remains the same for the loan term. Realistically, this interest rate is likely to change over the loan term.
• You make all your repayments in full and on time.
• You pay the minimum required, don’t make any additional lump sum payments or borrow more under the loan.
• Your repayments are calculated on a ‘principal + interest basis’ for the loan term.

The calculator also applies

• Loan-to-value (LVR) restrictions – these change depending on what you want to do with the type of property you own. For owner occupied properties, these typically require you to have a minimum of 20% equity in the property (e.g. a cash deposit) and investment properties require a minimum of 30% equity.
• Affordability criteria – are based on the details you’ve provided. Please note the amount we can lend may differ from the results displayed. If you apply for a home loan, you’ll need to complete an application form, where you'll need to provide more detailed information. Without this information, this calculator uses assumptions and allowances to estimate the amount you may be able to borrow.

This calculator is intended to provide general information only and is based on the details you provide. It doesn’t take into account your personal financial situation or goals. Therefore this isn’t financial advice, nor is it a quote or an offer of finance from Kiwibank Limited.