Mortgage Repayment Calculator
Calculate your home loan repayments, total interest payable, and amortisation schedule.
Total amount borrowed
Only shown for interest-only loans
Additional amount per repayment period
How It Works
The calculator uses the standard annuity formula to compute principal-and-interest repayments: PMT = P[r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the periodic interest rate, and n is the total number of payments. For interest-only loans, it shows interest payments for the IO period, then P&I for the remainder. Extra repayments are applied to the principal each period.
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Frequently Asked Questions
Is it better to pay weekly or monthly?
Paying weekly (1/4 of the monthly amount each week) means you make 52 payments = 13 months of payments per year instead of 12. This extra month of payments reduces your loan term by roughly 4-5 years on a 30-year loan and saves tens of thousands in interest.
What is a typical mortgage rate in Australia in 2025-26?
As of early 2026, variable home loan rates from major banks range from about 5.9% to 6.5% p.a. Fixed rates for 1-3 year terms sit around 5.7% to 6.3%. Rates vary by lender, LVR, and loan features.
How much can extra repayments save?
On a $500,000 loan at 6.2% over 30 years, an extra $200/month saves approximately $95,000 in interest and cuts over 5 years off the loan term. Even small extra payments early in the loan have outsized effects.
What is an offset account?
An offset account is a transaction account linked to your mortgage. Your balance offsets the loan principal for interest calculation. A $50,000 offset balance on a $500,000 loan means you only pay interest on $450,000.
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