Property & Home Loans
Mortgage Payoff Timeline Calculator
Find out exactly when your mortgage will be paid off based on your current balance, interest rate, and monthly repayment amount.
Your current outstanding mortgage balance (not the original loan amount)
Your current variable or fixed interest rate
Your actual monthly repayment amount (must exceed monthly interest)
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Buying a Property for Dummies (AU Edition)
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FAQ
Frequently asked questions
How does this calculator work out my payoff date?
It simulates your mortgage month by month — applying your repayment, deducting interest, and reducing principal — until the balance reaches zero. The number of months gives your payoff timeline.
What happens if my repayment doesn't cover the interest?
If your monthly repayment is less than or equal to the monthly interest charge, your loan will never be paid off — the balance grows over time. This is called negative amortisation. The calculator will flag this situation.
How can I pay off my mortgage faster?
Making extra repayments, switching to fortnightly payments, and making lump sum payments are the three most effective strategies. Even $200 extra per month on a $500,000 loan at 6.5% can save over 4 years and $80,000 in interest.
Does the calculator account for rate changes?
No — the calculator assumes your interest rate stays constant for the entire loan term. If rates rise, your payoff timeline will extend; if rates fall, it will shorten.
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