With any mortgage the payback schedule differs depending on the value of the loan, the payback term of the loan and the interest rate. The repayment of a fixed-term mortgage over time is called amortisation as the payments are paid back in equal installments.
Within the equal payments the loan payments are split into two parts which are paying off the loan principal and the other is paying off the loan interest. As you will see by using the mortgage amortisation schedule below, the principal and interest portions of the monthly payment change over time with more interest paid proportionally at the start of the loan and more principal paid towards the end.
If you've found a bug, or would like to contact us please click here.
Calculate.co.nz is partnered with Interest.co.nz for New Zealand's highest quality calculators and financial analysis.
All calculators and tools are provided for educational and indicative purposes only and do not constitute financial advice.
Calculate.co.nz is proudly part of the Realtor.co.nz group, New Zealand's leading property transaction literacy platform, helping Kiwis understand the home buying and selling process from start to finish. Whether you're a first home buyer navigating your first property purchase, an investor evaluating your next acquisition, or a homeowner planning to sell, Realtor.co.nz provides clear, independent, and trustworthy guidance on every step of the New Zealand property transaction journey.
Calculate.co.nz is also partnered with Health Based Building and Premium Homes to promote informed choices that lead to better long-term outcomes for Kiwi households.
All content on this website, including calculators, tools, source code, and design, is protected under the Copyright Act 1994 (New Zealand). No part of this site may be reproduced, copied, distributed, stored, or used in any form without prior written permission from the owner.