Calculators
Borrowing
This calculator gives an indication only, based on the information you enter. It isn’t an offer of finance or financial advice. Lenders apply their own criteria, rates change, and fees may apply. Talk to a Diamond Financials adviser for advice on your situation.
How we work it out
The fine print, in plain English
- Take-home pay
- Worked out from your gross income using NZ tax rates and the ACC earners’ levy. KiwiSaver and student loan deductions aren’t taken off.
- Test rate
- Banks check you could still pay if rates rose, so they assess the loan at a higher rate than you’d actually pay.
- Living costs
- We use the higher of your figure and a rough benchmark based on household size, as lenders do.
- Credit cards
- Counted at 3% of the limit each month, whether or not you carry a balance.
- Debt-to-income
- Reserve Bank rules generally cap lending at 6× gross income for a home and 7× for an investment property.
- Deposit
- Most lending above 80% LVR (65–70% for investors) is restricted, so your deposit matters as much as your income.