Mortgage Calculator
Repayment: $0
Total Interest: $0
Total Paid: $0
Buying a home is one of the biggest financial decisions most Australians make. Use our Mortgage Calculator Australia tool to help you prepare.
Use our free mortgage calculator Australia to estimate your weekly, fortnightly or monthly home loan repayments.
Instantly calculate interest, total cost and compare repayment options.
How to use this calculator
- Enter your loan amount
- Input your interest rate (%)
- Select your loan term (e.g. 25 or 30 years)
- Choose your repayment frequency (weekly, fortnightly, or monthly)
- (Optional) Add extra repayments if available
The calculator will instantly show:
- Estimated repayment amount
- Total interest payable
- Total cost of the loan over time
When to use this calculator
Use this tool when you want to:
- Estimate how much your mortgage repayments will be
- Compare different loan amounts or interest rates
- See how repayment frequency affects total interest
- Understand the long-term cost of a home loan
- Plan your budget before buying a property
This is especially useful for:
- First home buyers
- Property investors
- Refinancing homeowners
- Anyone comparing loan options
Example calculations
Example 1: $500,000 loan
- Interest rate: 6.0%
- Loan term: 30 years
- Monthly repayment: ~$3,000
- Total interest: ~$580,000
Example 2: $700,000 loan
- Interest rate: 6.5%
- Loan term: 30 years
- Monthly repayment: ~$4,400
- Total interest: ~$880,000
Example 3: Adding extra repayments
- Extra: $200/month
- Loan term reduced by several years
- Interest saved: tens of thousands
(Estimates only — actual results vary by lender and loan type.)
Frequently Asked Questions (FAQ)
Q1: How are mortgage repayments calculated?
Repayments are based on your loan amount, interest rate, and loan term using a standard amortisation formula.
Q2: Is it better to pay weekly or monthly?
Weekly or fortnightly repayments can reduce interest over time because you make payments more frequently.
Q3: What impact do extra repayments have?
Extra repayments reduce your loan balance faster, saving significant interest and shortening your loan term.
Q4: Does this include lender fees?
This calculator provides an estimate and does not include fees such as application or ongoing charges.
Q5: What interest rate should I use?
Use your current loan rate or an estimated rate based on market conditions.
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