NZ Mortgage Calculator Compare borrowing capacity across 6 banks
BNZ Kiwibank ASB SBS BOC ANZ
Results are indicative estimates only and do not constitute financial advice. Always confirm with your bank or a licensed financial adviser. Rates and policies subject to change.

Your Borrowing Results

Loan: $637,500Property: $750,000LVR: 85.0%2 Applicants1 Dependant30 yr term🏠 First HomeGrant: $10,000KiwiSaver: $41,000FHL Applied
BNZ
Max Borrowing Capacity
$727,999
Gross Income (p.a.)$169,000
Test Rate7.10%
Monthly Repayment*$4,284/m
Monthly Surplus+$608/m
DTI3.88x
Servicing Surplus5.7%
✗ FAILS— Consult Required
LVR > 80% — low equity premium applies
FHL: Combined income $165,000 exceeds FHL cap ($150,000)
Kiwibank
Max Borrowing Capacity
$739,089
Gross Income (p.a.)$169,000
Test Rate6.95%
Monthly Repayment*$4,220/m
Monthly Surplus+$672/m
DTI3.88x
Servicing Surplus6.3%
✗ FAILS— Consult Required
LVR > 80% — low equity premium applies
FHL: Combined income $165,000 exceeds FHL cap ($150,000)
ASB
Max Borrowing Capacity
$735,188
Gross Income (p.a.)$169,000
Test Rate6.85%
Monthly Repayment*$4,177/m
Monthly Surplus+$640/m
DTI3.88x
Servicing Surplus6.0%
✗ FAILS— Consult Required
LVR > 80% — low equity premium applies
FHL: Combined income $165,000 exceeds FHL cap ($150,000)
SBS
Max Borrowing Capacity
$771,872
Gross Income (p.a.)$168,750
Test Rate6.50%
Monthly Repayment*$4,029/m
Monthly Surplus+$849/m
DTI3.88x
Servicing Surplus7.9%
✗ FAILS— Consult Required
★ Best capacity
LVR > 80% — low equity premium applies
FHL: Combined income $165,000 exceeds FHL cap ($150,000)
Bank of China
Max Borrowing Capacity
$692,899
Gross Income (p.a.)$169,000
Test Rate7.60%
Monthly Repayment*$4,501/m
Monthly Surplus+$391/m
DTI3.88x
Servicing Surplus3.6%
✗ FAILS— Consult Required
LVR > 80% — low equity premium applies
FHL: not at Bank of China
ANZ
Max Borrowing Capacity
$739,089
Gross Income (p.a.)$169,000
Test Rate6.95%
Monthly Repayment*$4,220/m
Monthly Surplus+$672/m
DTI3.88x
Servicing Surplus6.3%
✗ FAILS— Consult Required
LVR > 80% — low equity premium applies
FHL: Combined income $165,000 exceeds FHL cap ($150,000)

Detailed Comparison

Item BNZ Kiwibank ASB SBS BOC ANZ
Max Loan Capacity$727,999$739,089$735,188$771,872$692,899$739,089
Gross Income Used (p.a.)$169,000$169,000$169,000$168,750$169,000$169,000
Test Rate7.10%6.95%6.85%6.50%7.60%6.95%
Monthly Repayment @ test rate$4,284/m$4,220/m$4,177/m$4,029/m$4,501/m$4,220/m
Actual Rate (indicative)6.99%6.89%6.95%6.85%6.79%6.89%
Actual Monthly Repayment$4,237/m$4,194/m$4,220/m$4,177/m$4,152/m$4,194/m
HEM Used (p.m.)$2,550/m$2,680/m$2,480/m$2,420/m$2,490/m$2,550/m
Living Expenses Applied (p.m.)$4,500/m$4,500/m$4,500/m$4,500/m$4,500/m$4,500/m
CC Stress (p.m.)$450/m$450/m$525/m$450/m$450/m$450/m
Existing Mortgage Repayments (p.m.)——————
Personal/Car Loan Repayments (p.m.)$465/m$465/m$465/m$465/m$465/m$465/m
Total Commitments (excl. new mortgage)$5,831/m$5,831/m$5,906/m$5,831/m$5,831/m$5,831/m
Monthly Surplus+$608/m+$672/m+$640/m+$849/m+$391/m+$672/m
NSR (Net Surplus Ratio)5.7%6.3%6.0%7.9%3.6%6.3%
DTI — All Debt / Gross Income3.88x3.88x3.88x3.88x3.88x3.88x
LVR85.0%85.0%85.0%85.0%85.0%85.0%
Rental Shading Rate75%70%75%70%75%75%

Income Used by Each Bank

BNZ
App 1 PAYE Salary$95,000
App 1 Overtime (80%)$4,000
App 2 PAYE Salary$70,000
Total (p.a.)$169,000
= Monthly$14,083/m
Kiwibank
App 1 PAYE Salary$95,000
App 1 Overtime (80%)$4,000
App 2 PAYE Salary$70,000
Total (p.a.)$169,000
= Monthly$14,083/m
ASB
App 1 PAYE Salary$95,000
App 1 Overtime (80%)$4,000
App 2 PAYE Salary$70,000
Total (p.a.)$169,000
= Monthly$14,083/m
SBS
App 1 PAYE Salary$95,000
App 1 Overtime (75%)$3,750
App 2 PAYE Salary$70,000
Total (p.a.)$168,750
= Monthly$14,063/m
Bank of China
App 1 PAYE Salary$95,000
App 1 Overtime (80%)$4,000
App 2 PAYE Salary$70,000
Total (p.a.)$169,000
= Monthly$14,083/m
ANZ
App 1 PAYE Salary$95,000
App 1 Overtime (80%)$4,000
App 2 PAYE Salary$70,000
Total (p.a.)$169,000
= Monthly$14,083/m

Rate Assumptions Used

BNZ
Test Rate7.10%
Indicative Rate6.99%
Rental Shading75%
Overtime Used80%
CC Stress3.0%/m
S/E Methodaverage
Kiwibank
Test Rate6.95%
Indicative Rate6.89%
Rental Shading70%
Overtime Used80%
CC Stress3.0%/m
S/E Methodlower
ASB
Test Rate6.85%
Indicative Rate6.95%
Rental Shading75%
Overtime Used80%
CC Stress3.5%/m
S/E Methodaverage
SBS
Test Rate6.50%
Indicative Rate6.85%
Rental Shading70%
Overtime Used75%
CC Stress3.0%/m
S/E Methodaverage
Bank of China
Test Rate7.60%
Indicative Rate6.79%
Rental Shading75%
Overtime Used80%
CC Stress3.0%/m
S/E Methodaverage
ANZ
Test Rate6.95%
Indicative Rate6.89%
Rental Shading75%
Overtime Used80%
CC Stress3.0%/m
S/E Methodaverage

Bank-Specific Notes

BNZ — Policy Notes
  • Test rate: 8.70% p.a. (floor rate)
  • Rental income shaded at 75% of gross
  • Overtime/bonus at 80% if 2-year history
  • Self-employed: average of 2 years + add-backs
  • Credit card stress: 3.0% of limit per month
  • DTI cap: 6x total debt to gross income (RBNZ)
  • LVR > 80%: Low equity premium (0.5–1.5% added to rate)
Kiwibank — Policy Notes
  • Test rate: 9.00% p.a. (floor rate)
  • Rental income shaded at 70% of gross
  • Self-employed: lower of 2 years (conservative)
  • NSR must be ≥ 0% to pass servicing
  • Credit card stress: 3.0% of limit per month
  • DTI cap: 6x per RBNZ restriction
  • LVR > 80%: Low equity fee applies
ASB — Policy Notes
  • Test rate: 8.70% p.a. (floor rate)
  • Rental income shaded at 75% of gross
  • Overtime/bonus at 80% with 2-year history
  • Credit card stress: 3.5% of limit per month (higher than others)
  • Self-employed: average of 2 years + add-backs
  • UMI = Usable Monthly Income approach
  • DTI cap: 6x per RBNZ restriction
SBS — Policy Notes
  • Test rate: 9.00% p.a. (floor rate)
  • Rental income shaded at 70% of gross
  • Overtime at 75% (more conservative)
  • NSR must be ≥ 0% to pass servicing
  • Credit card stress: 3.0% of limit per month
  • DTI cap: 6x per RBNZ restriction
  • ✓ Kāinga Ora First Home Loan (FHL) participating lender
  • Building society — may have more flexibility on exceptions
Bank of China — Policy Notes
  • Test rate: 8.95% p.a. (floor rate)
  • Rental income shaded at 75% of gross
  • Overseas income accepted at 70% shading
  • Self-employed: average of 2 years net profit + add-backs
  • LVR: 80% OO / 70% investment (standard freehold)
  • New Build (CCC within 6m): 80% for both OO & investment
  • Apartments >50m²: 70% (RV required) | Lifestyle <10ha: 70%
  • Credit card stress: 3.0% of limit per month
  • DTI cap: 6x per RBNZ restriction
  • No leasehold or Māori land titles accepted
  • Foreign buyers: FIBA compliance required
  • Broker accreditation required — contact aggregator
ANZ — Policy Notes
  • Test rate: 8.64% p.a. — lowest floor rate among major banks
  • Rental income shaded at 75% of gross
  • Overtime/bonus at 80% with 2-year history
  • Self-employed: average of 2 years net profit + add-backs
  • Credit card stress: 3.0% of limit per month
  • UMI (Uncommitted Monthly Income) approach
  • DTI cap: 6x per RBNZ restriction
  • LVR: 80% OO / 70% investment
  • LVR > 80%: Low equity fee applies
  • Slightly lower test rate = slightly higher max lending vs peers
🏠
📋 Need to talk about your Mortgage?
Siyoung Jo
Mortgage Adviser · Allied Financial Group
📧 jo@alliedfg.co.nz 📞 021 024 9656
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Last Updated: May 20, 2026

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