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Home loan quotes
A mortgage quote tells you what a lender would charge and what you would repay. Here is how to get a mortgage quote in NZ that you can actually rely on, and a quick estimator to start with.
By Yatin Kainth, Financial Adviser FSP1007497. Last reviewed
Short answer
To get a mortgage quote in NZ, you give a lender or an adviser your price, deposit, income and debts. A bank can only quote its own loans. I compare 30+ lenders, so one chat can show you several. An online mortgage quote is a guide only. A firm one comes after a lender checks your documents.
A mortgage quote is the lender’s picture of your loan: the amount, the interest rate, the term and the repayments. Home loans quotes come from two places, and they work quite differently.
| Going to one bank | Going through an adviser | |
|---|---|---|
| Whose loans you see | That bank’s only | 30+ lenders, banks and non-banks |
| Who checks your fit | The bank’s own policy | I match you to lender policy first |
| Applications | One lender, one answer | I pick the right lender before anything is lodged |
| Cost to you | Check with the bank | My initial chat is free |
If you want the longer comparison, I wrote up mortgage broker vs bank separately. The short version is that a bank can only give you its own answer. I can tell you which lender is likely to say yes, and on what terms.
Most people searching for mortgage loan quotes want a number quickly. That is fair, so the estimator comes next. It gives you a starting picture in about a minute.
Three quick steps. Nothing is stored or sent anywhere, because it all runs in your browser. It uses the same assumptions as my borrowing calculator, so the two will agree.
Illustrative only. This is not an offer of credit, a quote from any lender or personalised advice. The starting rate is the lowest test rate used in the borrowing calculator, not a live rate, and you can change it. Repayments assume principal and interest over 30 years.
The more I know, the closer the mortgage quote lands to what a lender will actually offer. For a proper quote I will ask for these things.
Credit history matters as well. You can get your own report from Centrix, Equifax and Experian (formerly illion), and it helps to look before a lender does. If you are buying your first home, the first home buyers page covers deposits and KiwiSaver.
If you only want the repayments on a particular loan, the mortgage repayment calculator does that job. To see how big a loan your income supports, use the borrowing calculator. Both are quick, and both are a good warm-up before we talk.
Accuracy also depends on timing. A mortgage quote is only as current as the lender policy behind it, and policy changes through the year. A figure someone gave a friend six months ago is a poor guide to what you will be offered today.
The rate in an advertisement is a headline. Your mortgage quote is built from your own file, so it can come out higher or lower. These are the usual reasons.
Special rates also change often, and some come with conditions. That is why I do not publish rates on this page. A rate that is true today may not be true when you read this. What I can do is show you a live comparison for your own situation in one conversation.
If you want your first quote to carry weight, ask about mortgage pre-approval. It is the step where a lender actually reviews your documents, so the number stops being a guess.
LVR, or loan-to-value ratio, is your loan as a percentage of the property value. It is the first thing I work out, because it sorts lenders more than anything else. At 80% or under you have the widest choice. Between 80% and 90% the list narrows to the lenders that do 10% deposit loans. At 90–95% the options are a handful of specific programmes.
The estimator above shows which band you are in. If you are only just over a line, a slightly larger deposit or a little less debt can move you down a band, and that can change the mortgage quote you receive. It is worth knowing before you make an offer on a house, not after.
An indicative mortgage quote from me takes one conversation, and my initial chat is about 20 minutes. By the end you will know your likely LVR band, a repayment range and which lenders fit.
A firm, lender-checked quote takes longer. The delay is mostly paperwork: how fast you send your documents, and how busy the lender is. Self-employed and more complex files take longer than a simple payslip case. If you are already refinancing, my guide to refinancing your mortgage shows what to gather first.
When you are ready, the next step is simple. Book a time, bring what you have, and I will tell you straight where you stand. I work with clients across all of NZ remotely, and I do not sell insurance.
My initial chat and indicative quote are free. I will explain how I am paid before you decide anything, and it is also set out in my Disclosure Statement. Banks do not usually charge to quote either, but check with the lender.
Generally, no. An adviser’s initial chat does not need a credit check. Lenders run a credit check when you apply, so I only apply once I know the lender is the right one.
It is a guide. An online mortgage quote works from the numbers you type in and general assumptions. It can’t see your credit history, your documents or the lender’s current policy, so treat it as a starting range.
Often, yes. The deposit changes which lenders fit, not whether a quote is possible. Try the estimator above, then book a chat so I can check your options.
A quote is an estimate of the loan and repayments. Pre-approval is a lender reviewing your documents and agreeing in principle to lend, subject to conditions. The pre-approval page has the details.
Book a free chat, or call 022 064 7770. I’ll compare the lenders that fit you and give you a straight answer.
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