Mortgage Repayment Calculator

Calculating your mortgage repayments

Using our calculator is easy, simply enter in the loan amount, term, interest rate and the frequency of your repayments and our calculator will let you know the size of your minimum repayments. You should match your repayment frequency to your pay cycle so that you always have funds in your account when your repayments are direct debited.

How to slash your interest expense…

The minimum is just the minimum, ideally you should try to pay more than the minimum amount which will enable you to pay the loan off faster. Around 50% of Australians make additional repayments from time to time or have called their lender and asked to increase the size of their payments.

A shorter term means less interest, however this will cause the size of your repayments to go up. If you go for a standard 30 year term then you will take 30 years to pay off the loan! It may sound like common sense, however if you just call your bank and ask them to reduce your home loan term to 20 years then you’ll pay far less in interest. In most cases your lender can make this change on the spot without the need for additional paperwork.

More home loan calculators

Please visit our home loan calculators page for a range of useful calculators that can help you to buy your first home.