Repayments

Home loan repayment calculator

Work out your home loan repayments and see how paying monthly, fortnightly or weekly changes the interest you pay and how soon you own your home.

What it shows

Your repayment, three ways.

Your regular repayment

The principal and interest repayment for your loan amount, rate and term, shown monthly, fortnightly and weekly.

The interest you'll pay

The total interest over the life of the loan, so you can see the real cost of borrowing, not just the repayment.

The time you could save

How much sooner you could own your home by paying more often, and how much interest that saves.

Paying it off sooner

Small changes, years saved.

Your repayment is set by your loan amount, interest rate and term. A few habits change how much you pay over time, and our Home Buyer's Guide covers the rest.

Why fortnightly helps

Paying half your monthly repayment every fortnight gives you 26 half-payments a year, the same as 13 monthly repayments instead of 12. That extra month goes straight to the principal, and over a 30-year loan it can take years off the term.

Extra repayments and offset

Any extra repayment reduces the balance that interest is charged on. An offset account does a similar job while keeping your money accessible, which suits people who like a buffer.

Principal and interest or interest-only

This calculator assumes principal and interest repayments, which pay the loan down over time. Interest-only repayments are lower for a set period, but the balance doesn't fall, and repayments rise when that period ends.

Plan for rate changes

Variable rates move with the market. It's worth checking your repayments at a higher rate too, so you know you'd still be comfortable if rates rose.

Repayment questions

The basics, explained simply.

What people ask us most about home loan repayments. Got another? Book a chat.

How are home loan repayments calculated?

Repayments are based on how much you borrow, the interest rate and the loan term. With principal and interest repayments, each payment covers the interest charged for that period, and the rest reduces your loan balance.

Is it better to pay weekly, fortnightly or monthly?

If you pay half your monthly amount each fortnight, or a quarter each week, you make the equivalent of one extra monthly repayment a year and pay the loan off sooner. Paying the exact monthly equivalent more often makes only a small difference.

How much interest will I pay on my home loan?

It depends on your loan amount, rate and term. On a typical 30-year loan, the total interest can exceed the amount you borrowed, which is why repayment frequency and extra repayments make such a difference.

Does the calculator include fees or lenders mortgage insurance?

No. It shows principal and interest repayments only. Loan fees, lenders mortgage insurance and offset or package fees can change your costs, so treat the result as a guide.

How much can I borrow?

Your borrowing power depends on your income, expenses, existing debts and each lender's policy, so it varies between lenders. We can give you a clear figure once we understand your situation.

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