Calculate the Impact of Changes to Your Loan

Many factors can affect your loan. Anything from your interest rate to your loan term to making additional payments can substantially affect your loan repayments.

Use our home loan term and interest calculator below to see the impact these small changes can make.

Use this as a guide only. The results from the calculator are illustrative and are based on the accuracy of the limited information that you provide. It is not to be taken as an offer of finance from any lender, nor is it to be considered financial advice.


At Corcoran Smith, we believe in helping New Zealanders obtain financial security and achieve their dreams. Below are answers to some of the most frequently asked questions about home loan term and interest repayments.

How do you calculate mortgage duration?
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To calculate your potential mortgage duration, you will need to input your home loan amount and your repayment frequency, whether monthly, fortnightly or weekly, to accurately estimate the length of your loan.

One thing you can do to minimise your duration is based on the frequency of your payments, which dictates the amount of interest you pay over the life of your loan. Use the calculator above to get an estimated figure of your mortgage duration, and get in touch with Corcoran Smith to find out how repayment frequency can impact your loan length.

How long is a mortgage term in New Zealand?
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Nowadays, the standard home loan term in New Zealand averages 30 years. Borrowing for a long period means you can make lower monthly repayments, but you will also be paying, as your balance reduces slower and you pay interest for longer.

If you opt for a shorter loan term, you can potentially save yourself thousands of dollars. Take advice today and get in touch with expert mortgage and financial advisers.

What is the longest term for a mortgage in New Zealand?
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30 years is the longest term for a mortgage in New Zealand. You can often choose a term for up to 30 years with lenders, depending on your age. Currently, no New Zealand banks offer mortgage and loan options beyond 30 years.

What is an Interest Only Loans?
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With an interest-only loan, your payments are only covering your loan's interest cost. This is usually a temporary measure. Eventually, you will need to pay off the entire loan—either as the full amount or with higher monthly payments that will include principal and interest

Still Have a Question?

We’re happy to answer any questions you have.

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