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Home loan repayments - calculator

By using this home loan repayment calculator, you can work out what your minimum weekly, fortnightly or monthly repayments would be for the amount you are planning to borrow.


Your borrowing power estimate:

Income:

Expenses:

You may be able to borrow up to:


$
$

Interest Rate:

I want to borrow


over


at an interest of

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Your monthly repayment will be:

Total loan
repayments:
Total interest
charged:

Repayment options:

Options I want:

We've updated the results with the lowest rate from our lender panel based on your selected options.

There's a lot to consider when choosing the right loan. Our brokers can help with expert advice at no cost to you.

What will your home loan repayments be?

Our mortgage repayment calculator helps you work out how different loan repayment frequencies will affect your home loan. Generally, the more frequent your home loan repayments, the less total interest you’ll pay over the life of your loan. It's good to plan your repayments in with your normal banking incomings and outgoings, so if you get paid monthly, it could be easy to make your mortgage repayments at the same time.

Our calculator also allows for you to calculate mortgage repayments on different kinds of loans, including principal and interest or interest only loans.

To work out the best home loan term, payment frequency and repayment type, contact your local mortgage broker to organise a consultation at no cost to you. Our experts can help to analyse your individual situation to find the right option for you.

Tips for paying off your home loan, faster

Can't pay more? Pay more often

There are 12 months in a year, but did you realise there are 26 fortnights? If you divide your monthly loan repayment in two and make payments every fortnight, you'll make the equivalent of 13 monthly repayments every year - that's an extra month's repayment without feeling the pinch.

Make extra repayments

Even small amounts can make a major difference. If you buy two cups of coffee a day and you cut that down to just one, you could be saving around $15 a week that you could put towards your mortgage.

Add windfalls to the home loan

Lump sum payments like an end of year salary bonus or your annual tax refund can make a surprising impact on your loan. Make it an annual habit for even bigger savings.

Get a mortgage with an offset account

With these loans, all of your salary goes into a transaction account that is linked to your mortgage. Every dollar you keep in this account is offset against your loan, working to reduce the balance on which interest is calculated as you only pay interest on the difference between your home and loan and your savings. Used carefully, this can get you thousands of dollars ahead on your repayments.

Use redraws wisely

A redraw lets you take out any extra payments you've tipped into your home loan. It can be a handy feature but use it sparingly. Dipping into your loan too often will reduce the interest savings made by the extra repayments, and you may also be charged a fee for each redraw.

Give your home loan an annual health check

In a competitive market, it pays not to be complacent about your home loan. Mortgages are constantly evolving, and an annual check up with the help of your mortgage broker can show if your loan is still the best choice for you.

Compare and save on your mortgage

See the latest great deals from over 20 lenders, including the big four banks. Our online comparison tool lets you compare rates and features of hundreds of loans to find one that's right for you~.


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The results from these calculators are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Disclaimer - Borrowing power: The borrowing amount is a guide only. Loan repayments are based on the lowest interest rate (either standard variable or 3-year fixed rate, owner occupier) from our lender panel over a repayment period of 30 years. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Disclaimer - Loan Repayments: The lowest interest rate from our lender panel is either standard variable or 3-year fixed for an owner-occupier. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

 

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