how much can i borrow nz

In New Zealand, how much you can borrow depends primarily on your income, expenses, deposit size, and the lender's criteria. Generally, banks will lend up to 80% of the property's value, requiring at least a 20% deposit, though sometimes this can be up to 95% with more stringent conditions. Your borrowing capacity also depends on your ability to service the loan, typically meaning your home loan repayments should not exceed about 35% of your income before tax. New debt-to-income restrictions are expected, which might limit total borrowing to about three to six times your annual income. Lenders also consider your financial support obligations, expenses, and credit score when determining how much you can borrow.