Mortgage Repayment Calculator

Work out what your minimum repayments could be on a home loan. Our Mortgage Repayment Calculator is a great tool to help you get a feel for your level of comfort in the amount you are going to borrow. 

Enter in your home loan amount, your loan type, loan term and the interest rate you think you'll be paying to our calculator below to get an idea of what your repayments could be. Easy!

 

Calculations are estimates provided as a guide only based on information you provided. They assume interest rates do not change throughout the loan. When you consider your minimum repayments you should also plan ahead for any future interest rate rises.

This calculator is not intended to be your sole source of information when making a financial decision. You may wish to consider getting advice from a licensed finance professional.

Fees and charges are payable. The calculations do not take into account fees, charges or other amounts that may be charged to your loan (such as establishment or monthly service fees or stamp duty). If you are borrowing more than 80% of the value of the property, Lenders Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.

The amount you could save and the time in which you could pay off your loan by making weekly or fortnightly repayments are estimates compared to repayments made monthly and assume you make the specified weekly or fortnightly repayments (which are specified as either half or one quarter of the monthly amount payable) until the loan is repaid. Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Conditions apply to all loan options.

FAQs about the Mortgage Repayment Calculator

  • Q. What does the Mortgage Repayment Calculator show?

    A. The Mortgage Repayment Calculator estimates the repayments required, on a regular basis, to service a home loan. It can help determine how much an individual can afford to borrow, for how long, and the impact of interest rates on their repayments.

  • Q. Who should use the Mortgage Repayment Calculator?

    A. The Mortgage Repayment Calculator can be a useful tool for anyone thinking about borrowing money to purchase a property, or to refinance an existing home loan.

    To understand how repayments can be altered by lump sum payments or additional repayments, review the following calculators:

    Lump Sum Calculator 
    Additional Repayments Calculator

  • Q. What's the difference between a principal & interest home loan and an interest-only home loan?

    A. Principal & interest means you are repaying both the original amount borrowed (principal) and the interest charged. Interest-only means that you only repay the interest (in the short term), usually for an agreed period of time before your repayments on your home loan will revert to principal & interest repayments.

  • Q. Can I pay weekly or fortnightly?

    A. Yes you can, if you're making principal and interest repayments you can choose the frequency, interest only repayments can only be monthly.

    When you make fortnightly repayments you will repay 50% (weekly 25%) of your monthly contractual repayments each fortnight. This way, by making fortnightly repayments, you could save in interest charges and really cut the term of your loan down to size.

    The outcome is that over the course of one year, you’re in effect making an extra monthly repayment, which brings down your balance and reduces the interest payable.

  • Q. What's the point of multiple or split home loan accounts?

    A. Multiple (or split) home loan accounts help you structure your home loan in the way that suits you.

    So for example you can fix a portion of your home loan so that you've got some certainty about your repayments for that portion for an agreed period of time; you could then have another portion in a variable home loan account with an offset facility that your salary gets paid into (which would let you drive down a portion of your interest by putting your salary to use before you spend it).

    Plus you can choose between principal & interest and interest-only repayment options (conditions apply). Important to know that if you split your home loan into two or more separate accounts, each will be charged a monthly fee.

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