Lump sum payments mortgage calculator

How much time and interest can you save by paying a lump sum off your home loan? Find out using this mortgage calculator.

Lump sum repayments


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What impact will a lump sum payment have on your home loan?

Much like extra repayments, a lump sum payment can have a significant impact on the life of your home loan and the amount of money you can save. Making a lump sum payment, particularly in the early years of your loan, can have a big effect on the total interest paid on the loan.

This calculator will help you to measure the impact that a lump sum repayment made at a certain period into the loan will have on the length of your mortgage and the total interest paid.

  • Choose the frequency with which you repay your loan, keeping in mind that more frequent mortgage repayments will reduce the interest paid as well as the life of your loan.
  • Choose the time at which you will make the lump sum repayment, keeping in mind that the earlier into the loan this is done, the more money you may save.
  • The calculator will use these figures to give you an estimated total interest savings and the new period of time it will take to pay off your loan.

Talk to your Mortgage Choice mortgage broker to find out if lump sum payments are permitted for your home loan. Some lenders will only allow a certain extra amount to be paid off each year without incurring additional fees, and a broker can help you figure out the best way to save money and time off your home loan.

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Step-by-step guide to home ownership

There are many steps involved in purchasing a property which can vary between residential and investment properties. This guide explains each step in order as well as what is involved at every stage of the purchasing process.


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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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