Calculator
Home loan repayment calculator
Enter a loan amount, interest rate and term to see what the repayments look like by month, fortnight or week, plus the total interest over the life of the loan. No sign-up and no details required: just a quick, honest estimate you can adjust as many times as you like.
The amount you plan to borrow, not the property price.
Use the rate on your current loan, or a scenario you want to compare.
Repayment frequency
Estimated repayment
$3,597
per month over a 30 year term
- Total interest over the term
- $695,029
- Total amount repaid
- $1,295,029
Estimate only, based on principal and interest repayments with no fees included. It is not advice, a quote or an offer, and actual repayments depend on the lender, the product and your circumstances.
How it works
What the calculator is actually doing
The calculator uses the standard principal and interest formula lenders use for an amortising loan. Each repayment covers the interest charged for that period plus a slice of the loan itself, and because the balance falls with every payment, the interest portion of each repayment shrinks over time while the principal portion grows. Early in a 30 year loan, most of each repayment is interest. By the final years, almost all of it is principal.
The result comes from 3 inputs. The loan amount is the balance you plan to borrow or currently owe, not the property price. The interest rate is annual, divided by 12 to get a monthly rate. The term sets the number of repayments, so a 30 year loan means 360 monthly payments. Move any of the 3 and the repayment moves with it: a longer term lowers the repayment but raises the total interest, and even a small rate change on a large balance is real money every month.
The fortnightly and weekly figures here spread the same annual amount across 26 fortnights or 52 weeks, so the totals stay comparable. The popular strategy of paying half your monthly repayment every fortnight is a different thing: it fits 13 months of repayments into each year, and over a full term that quiet extra month compounds into years saved. Our extra repayment calculator shows exactly what that does to a loan.
Estimates only, not advice
Results from this calculator are estimates for general guidance only. They are not financial or credit advice, a quote, or an offer of credit, and they do not consider your personal circumstances. Actual repayments depend on the lender, the product, the fees and how your application is assessed. Your full financial situation and needs will be considered prior to any offer or recommendation of a credit product. The information on this website is general in nature and does not take your personal circumstances into account.
Where to next
If the repayment surprised you
Refinance your home loan
Paying more than the number you just calculated? Stop paying the loyalty tax. A better structure can change everything.
Explore refinancingPay the loan off faster
Practical, boring, effective: the 4 levers that shorten a loan, explained in plain English in our guide.
Read the guideBorrowing power calculator
Repayment looks manageable? See a conservative guide to what you might be able to borrow in the first place.
Check borrowing powerAll 8 tools live on the calculator hub.
Repayment calculator FAQs
How are home loan repayments calculated?
Lenders use an amortisation formula: each repayment covers the interest charged for that period plus a portion of the loan balance, sized so the whole loan is repaid by the end of the term. This calculator uses the same standard formula on a monthly basis. Because the balance falls with every payment, the interest share of each repayment shrinks over time while the principal share grows.
Are fortnightly repayments cheaper than monthly?
Not in this calculator: the fortnightly and weekly figures here spread the same annual amount across 26 or 52 payments, so the totals match. The strategy you may have heard about works differently: paying half your monthly repayment every fortnight quietly fits 13 months of repayments into each year, which pays the loan down faster. Our extra repayment calculator shows the effect of paying more than the minimum.
Does this calculator include fees, LMI or offset?
No. It models principal and interest repayments only. Application fees, annual package fees, lenders mortgage insurance and offset balances all change the real cost of a loan, which is why the result is an estimate for general guidance rather than a quote. A broker can model your full scenario properly.
What interest rate should I enter?
Use the rate on your current loan if you are reviewing it, or a scenario rate if you are comparing. We cannot tell you what rate you would be offered: that depends on the lender, the product, your deposit and a full assessment of your situation. Trying 2 or 3 rates a few points apart is a quick way to see how sensitive your repayment is.
A repayment is only half the picture
Rate, term, offset and structure decide what a loan really costs. We look at all 4, our advice costs you nothing, and you will know exactly where you stand.