Calculate Your Mortgage & Loan Repayments

Get an understanding of how much a property’s home loan repayments might add up to with our loan repayment calculator.

Ready for pre-approval and mortgage advice from expert financial advisers?

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 loan repayments.

How do you calculate loan repayments?
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Our repayment loan calculator above can provide you with a brief overview for calculating your loan repayments. To calculate your repayments manually:

  1. Divide your interest rate by the amount of payments you will make each year. This is often one per month or 12 per year.
  2. Multiply the output figure by your initial loan balance. This should start at the full amount you borrowed.

For example, if your interest rate is 5%, you make 12 payments per year, and your initial loan balance is $500,000, see the equation below:

0.06 / 12 = 0.005

0.005 x $500,000 = $2,500

The $2,500 is the figure you will pay in interest in your first month. As you continue to pay your loan off, more of your repayments will be allocated to the initial balance, with less going toward interest.

How do I calculate my Debt-Top-Income (DTI) ratio?
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To accurately calculate your Debt-To-Income (DTI) ratio, you will need to know the following:

  • Your debt amount (the total amount of money you have borrowed)
  • Your average monthly income (how much you earn per month on average)

Using the DTI formula, you can figure out how much money and time you need to repay your debts.

  1. Calculate all your total monthly debt payments. This includes your credit cards, mortgage, vehicle loans, and alike
  2. Work out your monthly gross income by dividing your gross annual income by 12.
  3. Divide the sum of your monthly debt payments by your monthly income calculated in
  4. Move the decimal point two digits to the right to make it a percentage
What costs should be expected when I buy my first home?
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There are several costs that will be unavoidable and required, the below figures are just estimates as rates will vary including:

  • Builder’s report: $100 - $500
  • Solicitor costs: $800 - $1,500
  • Registered valuation: $800 - $1,200
  • LIM report: $150 - $400
  • Non-bank lending finance fee: around 1%
  • Report for weather tightness (Monoclad homes): $300 - $1,000
What will a mortgage broker cost?
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At Corcoran Smith, our financial advice is usually provided to our clients at no additional cost. Most of our services are free, as we are paid directly by our partners such as local and national banks, insurance agencies and companies, and KiwiSaver scheme providers.

Still Have a Question?

We’re happy to answer any questions you have.

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M Horo-Kiriwera

"I have worked with both Torrone (Mortgage) and Sam (Insurance) on multiple occasions and have been very impressed with their services. They are efficient, good communicators and are very personable to work with. I couldn't recommend them highly enough. I look forward to watching their business prosper into the future. Regards, Hadley van Schaik."

H van Schaik

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"A great team to deal with. They have everything covered. Helpful, honest, fantastic communication and they get things done. Highly recommend talking to Torrone or Sam, experts in their fields."

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"Torrone made getting a mortgage easy and Sam did great on our insurance. I would recommend Corcoran Smith to everyone, we are very grateful to both Torrone and Sam."

J & D Hamlin

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G Cleland

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"I would definitely recommend Torrone and Sam for Financial and Insurance brokering, both of them went above and beyond with their help and service."

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