How Much Can I Borrow?

first home buyer - home loan amount

At iLender we deliberately do not put up an online calculator as they are very misleading. To get an idea of what you can borrow simply give us a call or send us a message and we’ll go over the numbers together. One of the most important questions to answer when you’re looking to buy  a property is how much money you have available, both within your own savings for a deposit and from a mortgage adviser.

To get started with a new home loan, consider some of the following factors that will go into calculating your mortgage.

Deposit Amount

Most lenders require a deposit, the amount and source vary hugely between lenders and we highly recommend talking to us to get the latest information.

Remember that the less you put down upfront, the bigger a risk you are for a lender. To get the lowest monthly payments, you’ll want to put in a higher initial deposit.

Bad credit? No worries, as we can offer great rates and low deposit amount for people with poor credit scores.


The monthly income of you and your partner helps to determine how much you can borrow. Once iLender knows the amount of deposit you have, your income, fixed payments or other financial commitments (such as current loan debt) then iLender can advise you on your home loan affordability.

Government Support

If you are a first time home buyer in New Zealand, you be able to use your KiwiSaver (if you have been contributing for over 3 years), get a first home buyers grant or a Welcome Home Loan may apply.

Changes By Reserve Bank

The Reserve Bank is trying to limit lending and has imposed restrictions on Banks. This means they often cannot lend more than 80% of the purchase and if they can, they charge a higher amount. A Registered Valuation may be required and Lenders will base your loan amount based on the lower of purchase price/valuation.

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Let us help you get your mortgage, insurance or other lending sorted. Call us to take the First Step into buying or refinancing.

Call 0800 536 337