The lender will drop its test rate from 6.00% to 5.50% for prime full doc loans, and from 6.50% to 6.00% for prime alt doc loans.
Resimac said the new rate "should enable new borrowers to borrow more". The new test rates came into effect yesterday.
The test rate cuts come after the non-bank reduced prime rates earlier this month. Currently, the firm offers two-year fixed rate mortgages starting from 2.99%.
Resimac New Zealand head, Luke Jackson, said his firm wanted to give mortgage advisers competitive options "in an ever-changing market"'
"Being agile and flexible continues to be essential in this current market. With this in mind, Resimac has reduced testing rates to reflect our ongoing commitment to provide mortgage advisers with lending options that are both responsible and relevant to the market," he said.