Mortgage repayment calculator
Estimate your home loan repayments from your own loan amount, rate and term.
Choose weekly, fortnightly or monthly repayments, on principal and interest or interest only.
Reviewed by Anita Callaghan, Director and Principal Broker of Anita Finance, Credit Representative 557021.
Last updated .
Enter your interest rate to see an estimate.
What the estimate tells you
The repayment is what you'd pay each period to clear the loan over the term you enter.
The total shows the interest you'd pay over the life of the loan, if your rate stayed the same.
Interest-only repayments are lower while they last, and when the interest-only period ends your repayments increase to cover the amount borrowed as well. (Moneysmart)
To see how extra repayments could shorten your loan, try the extra repayments calculator.
General information only. This calculator gives an estimate based on the figures you enter.
It assumes your interest rate stays the same for the whole term, and it leaves out fees, charges and lenders mortgage insurance.
It isn't a quote, an offer of credit or an indication of what a lender will approve.
It doesn't take your objectives, financial situation or needs into account, and Anita can give you figures based on your own situation.
Mortgage repayment questions
How are mortgage repayments calculated?
Principal and interest repayments are worked out from your loan amount, your interest rate and your loan term, so that each repayment covers that period's interest plus some of the amount borrowed.
Early on, more of each repayment goes to interest, and over time more of it goes to paying down the loan.
Are weekly or fortnightly repayments better than monthly?
Paying more often means interest is charged on a slightly lower balance between repayments.
Some lenders also work out fortnightly repayments as half the monthly amount, which adds up to 1 extra monthly repayment a year, so ask how your lender calculates them.
What's the difference between principal and interest and interest only?
Principal and interest repayments pay down your loan as well as the interest, while interest-only repayments cover the interest alone for a set period.
When the interest-only period ends, your repayments increase to pay off the amount borrowed as well.
Why might my lender's figure be different?
This calculator assumes your rate stays the same for the whole term and leaves out fees and charges.
Lenders also round and schedule repayments in slightly different ways, so treat the result as an estimate.
Get figures for your own loan.
Send Anita your details, and she'll come back to you with repayments based on real lenders and your situation.
The first conversation usually takes about 20 minutes, and it gives you a clearer picture of your options.
Monday to Friday, and after hours when needed.