Extra home loan repayments calculator

Use this mortgage calculator to find out how much time and interest
can you save by paying more than the minimum repayment.

Extra repayments or offset account?

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How much could you save by making extra repayments? Talk to Mortgage Choice today.

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Our latest interest rates

Lender Product Annual Interest
Rate % p.a.
Rate % p.a.
Lender N Homeloans Ultra Plus 3.79% 4.04%
Lender P Fixed Rate Loan (O/Occ) 3.79% 4.37%
Lender AB NAB National Fixed Choice Package - Principal and Interest 3.89% 4.84%
Lender A SmartFix 3.99% 4.50%
Lender K Fixed Rate home loan - (Owner Occupier) 3.99% 4.56%
Lender Product Annual Interest
Rate % p.a.
Rate % p.a.
Lender P Orange Advantage ($500k+ where LVR <=80% O/Occ) 3.74% 3.96%
Lender M Discount Variable Special Offer Rate 3.79% 3.84%
Lender M Home Advantage Variable $150,000 to $249,999 3.88% 4.25%
Lender K Fresh Start Basic Home Loan (Owner Occupier) 3.89% 3.94%
Lender A SmartSaver 3.94% 3.98%
Credit criteria, conditions, fees and charges apply. Subject to suitability. The comparison rates in this table are based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

Crunch your numbers on the go

The Mortgage Choice Home Loan Helper App is your own pocket sized loan calculator - free from the Apple and Google Play stores.

How extra home loan repayments could save you time and money

By making additional mortgage repayments, you could save yourself interest and reduce the length of your home loan. The more money that you owe, the more interest you’re paying, so if your loan allows you to make extra repayments and you can afford to pay a little more, this could be a smart option for you.

By entering your current mortgage status including loan amount, interest rate and frequency of repayments, you can calculate the impact that extra monthly repayments will have on the length of your loan and the total amount repaid on your mortgage. The earlier in your mortgage’s life that you begin making extra repayments, the more money and time off your loan you may save. Even small amounts of $50 extra a month can make a significant difference to the total amount paid at the end of your loan.

It’s always valuable to talk to your mortgage broker when looking to make additional repayments, as some fixed rate home loans will not allow you to do this without incurring an additional fee. Your broker will check if you are able to make extra repayments or if there is a limitation on how much you can repay throughout the loan. Contact Mortgage Choice today to explore your options and see if you could save.

Disclaimer: 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.