Mortgage Repayment Calculator

Estimate your monthly home loan repayments, total interest paid, and see a full amortisation schedule.

Loan Details
$
The total amount you are borrowing.
$
Used to calculate your Loan-to-Value Ratio (LVR).
%
The advertised variable or fixed rate on your loan.
years
Extra Repayments (Optional)
$
Additional amount paid each period above the minimum.
$
Reduces the principal balance interest is calculated on.

Frequently asked questions

Monthly repayments are calculated using the standard loan amortisation formula: M = P x [r(1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly interest rate, and n is the number of monthly payments.

An amortisation schedule is a table showing each repayment broken down into principal and interest. Early repayments are mostly interest. As the loan matures, more of each payment goes toward reducing the principal.

Most Australian home loans are taken out over 25 to 30 years. Choosing a shorter term means higher monthly repayments but significantly less total interest paid over the life of the loan.

Extra repayments directly reduce your principal balance, which reduces future interest charges. Even small additional payments each month can save tens of thousands of dollars over a 30-year loan.