Home Loan Repayment Calculator
Estimate repayments, total interest and time saved with offsets or extra repayments — with an optional view of upfront government costs. Compare rates from 7 major Australian banks.
Calculate your repayments
Enter your loan details to estimate repayments instantly
Loan details
Property price, deposit & interest rate
Loan amount = property value − deposit
Rates are indicative as of March 2026. Always confirm with lender.
Repayments & features
Frequency, offset & extra repayments
Reduces interest-charged balance daily
Additional amount per period, on top of minimum
Upfront costs (optional)
Stamp duty, government fees & LMI
Advanced options
Lender fees & calculation method
Application, valuation, settlement fees
Ongoing annual fee (if applicable)
Only applies when Interest Only is selected
Estimated Repayment
$3,627
per month
Estimates use a standard amortisation model. Your lender may differ slightly due to daily interest calculation and rounding.
With offset & extra repayments
Save $0 in interest and pay off 0 years sooner
Compare scenarios
Loan:$640,000
Rate:5.42%
Term:30 years
Offset:$0
Extra:$0/mo
$3,731/mo
Total interest: $703,160
Loan:$640,000
Rate:5.42%
Term:30 years
Offset:$50,000
Extra:$200/mo
$3,827/mo
Total interest: $521,490
Scenario 2 saves you
$145,230 in interest
Pay off 5 years 4 months sooner
Get personalised options (no obligation)
A licensed broker can review your numbers and discuss the best options for your situation.
Breakdown & tools
See how your loan balance decreases over time with each payment. This schedule shows the breakdown of principal and interest for each year.
| Year | Annual Payment | Interest Paid | Principal Paid | End Balance |
|---|
...showing first 5 years
Compare how offset balances and extra repayments reduce your total interest and loan term. Both strategies can save you significant money over the life of your loan.
Base (no offset/extra)
30 years | $666,720 interest
With offset & extra
24y 8mo | $521,490 interest
Save $145,230 | 5y 4mo faster
Breakdown of estimated upfront costs you'll need to budget for when purchasing the property.
- Deposit$160,000
- Stamp duty (estimated)$31,490
- Transfer registration fee$156
- Mortgage registration fee$156
- Lender upfront fees$0
- LMI (if applicable)$0
- Total upfront cash needed$191,802
Compare bank rates
| Lender | Product | Rate | Comparison | |
|---|---|---|---|---|
| Macquarie | Basic Home Loan | 5.59% | 5.61% | |
| ING | Orange Advantage | 5.74% | 5.76% | |
| CommBank | Wealth Package | 5.84% | 6.23% | |
| NAB | Base Variable | 5.94% | 5.97% | |
| Westpac | Flexi First Option | 6.39% | 6.66% | |
| ANZ | Standard Variable | 6.74% | 6.79% |
Home loan repayment calculator (monthly, fortnightly, weekly)
Calculate your mortgage repayments at different payment frequencies. Paying fortnightly instead of monthly means you make 26 payments per year (equivalent to 13 monthly payments), which can shave years off your loan and save tens of thousands in interest. Weekly payments offer even more acceleration. Use the frequency selector above to see how your repayment amount changes.
Mortgage calculator with offset account
An offset account reduces the loan balance used to calculate interest. For example, with a $600,000 loan and $50,000 in offset, you only pay interest on $550,000. Our calculator shows exactly how much you'll save in interest and how many years you'll cut from your loan term. Enter your expected average offset balance in the "Offset balance" field above.
Extra repayments calculator: how much can you save?
Even small extra repayments can make a huge difference over 30 years. Adding just $100 per month to a $500,000 loan at 5.42% can save you over $40,000 in interest and pay off your loan 3+ years early. Use the "Extra repayment per period" field to see your potential savings in the results above.
Interest-only repayments (IO) vs principal & interest (P&I)
Interest-only loans have lower initial repayments since you're not paying down the principal. However, you'll pay more total interest and still owe the full amount when the IO period ends. P&I loans cost more per month but build equity from day one. Toggle between IO and P&I in the calculator to compare both options for your situation.
Upfront costs: deposit + stamp duty + government fees
Your deposit is just the start. Budget for stamp duty (varies by state), transfer and mortgage registration fees, lender fees, and potentially LMI if your deposit is under 20%. Our "Upfront Costs" tab in the breakdown section gives you a complete estimate of cash needed on settlement day. First home buyers may qualify for stamp duty exemptions.
Amortisation schedule (repayment table)
View your complete year-by-year breakdown showing how each payment is split between principal and interest. Watch your loan balance decrease and equity grow over time. The amortisation table also shows the impact of offset accounts and extra repayments on your payoff timeline. Download the full schedule as a CSV file for your records.
How this calculator works
Understanding the methodology behind your mortgage estimate
Enter your loan details
We calculate your loan amount as property value minus deposit. Select a rate preset from 7 major Australian banks, or enter your own interest rate. The calculator automatically computes your LVR (Loan-to-Value Ratio) to determine if LMI may apply.
Choose your repayment options
Select Principal & Interest (P&I) or Interest Only, your preferred payment frequency, and any offset balance or extra repayments. Fortnightly payments (26/year) effectively make 13 monthly payments, reducing your loan faster.
Get your instant estimate
We use standard amortisation formulas to calculate your repayments, total interest, and payoff time. The calculator shows how offset accounts and extra repayments can save you money compared to a base scenario. Use "Add scenario" to compare different options side-by-side.
Assumptions & limitations
- Rates shown in presets are indicative as of March 2026 and can change at any time. Always confirm current rates with the lender.
- Interest is calculated using periodic compounding matching your selected repayment frequency (monthly, fortnightly, or weekly).
- Stamp duty and government fees are estimates based on state/territory rules and may not reflect your exact situation. First home buyer concessions vary by state and property type.
- LMI estimates are approximate. Actual premiums vary significantly by lender, insurer, loan amount, LVR, and borrower profile.
- This calculator does not assess your ability to service the loan or guarantee approval. Lenders have their own serviceability criteria.
- Results are estimates only and may differ from actual loan calculations due to daily interest calculation, rounding, fees, and lender-specific policies.
Common Scenarios
Quick guide to different mortgage situations
First Home Buyer
Buying your first home? You may qualify for stamp duty concessions, the First Home Owner Grant, or the Home Guarantee Scheme to avoid LMI with a smaller deposit.
Offset Account
An offset reduces your interest-charged balance. $50,000 in offset on a $500,000 loan at 6% can save ~$90,000 interest and cut 4+ years off your term.
Extra Repayments
Even $200/month extra on a $500,000 loan saves ~$72,000 interest and cuts 5 years off. Use the extra repayment field to model your scenario.
Fortnightly Payments
Paying fortnightly = 26 payments/year (13 months worth). On a $500,000 loan at 6%, this saves ~$47,000 interest and 4 years vs monthly payments.
Considering refinancing?
Compare your current loan with a new rate to see break-even months, net savings at 1, 3 and 5 years, and whether refinancing is worth the fees.
Frequently asked questions
Common questions about mortgage repayments in Australia
We estimate repayments using the standard amortisation formula for Principal & Interest (P&I) loans. The formula considers your loan amount, interest rate, and loan term to calculate fixed payments.
For interest-only loans, we calculate interest on the outstanding balance for each period.
At 6% interest over 30 years (P&I), repayments on a $500,000 mortgage are approximately:
$2,998 per month | $1,384 per fortnight | $692 per week
Total interest paid over 30 years: approximately $579,191.
Fortnightly payments can save you significant interest and time. Paying fortnightly means 26 payments per year, which equals 13 "monthly equivalent" payments instead of 12.
On a $500,000 loan at 6% over 30 years, fortnightly payments can save approximately $47,000 in interest and cut 4 years off your loan term.
An offset account is a transaction account linked to your home loan. The balance reduces the loan amount on which interest is calculated daily.
For example, $500,000 loan with $50,000 in offset means you only pay interest on $450,000. This can save approximately $90,000 in interest over 30 years.
Lenders Mortgage Insurance (LMI) protects the lender if you default. It's typically required when your deposit is less than 20% (LVR above 80%).
LMI can cost 1-4% of your loan amount. First home buyers may access exemptions through government schemes like the First Home Guarantee.
The interest rate is what the lender charges on your loan balance. The comparison rate includes the interest rate plus most fees and charges.
By law, Australian lenders must display comparison rates to help you compare loans. However, comparison rates may not include all fees.
Your borrowing power depends on your income, expenses, existing debts, and lender criteria. Generally, you can borrow 5-6 times your gross annual household income.
Use our Borrowing Power Calculator for a more accurate estimate.
At 6% interest over 30 years (P&I): $3,597 per month | $1,660 per fortnight | $830 per week
At 6% interest over 30 years (P&I): $4,197 per month | $1,937 per fortnight | $969 per week
At 6% interest over 30 years (P&I): $4,796 per month | $2,214 per fortnight | $1,107 per week
At 6% interest over 30 years (P&I): $5,996 per month | $2,767 per fortnight | $1,384 per week
On a $500,000 loan at 6% over 30 years:
$100/month extra: Save ~$43,000 in interest, pay off 3 years sooner
$200/month extra: Save ~$70,000 in interest, pay off 5 years sooner
$500/month extra: Save ~$130,000 in interest, pay off 9 years sooner
Yes, our calculator includes optional estimates for stamp duty and government fees based on your selected state/territory and property value.
First home buyer concessions are applied when selected. For detailed calculations, use our Stamp Duty Calculator.
Most Australian lenders calculate interest daily on your outstanding balance and charge it monthly. Our calculator uses standard amortisation formulas that approximate this method.
Use the rate preset dropdown to quickly compare repayments at different bank rates. Consider comparison rate, fees, features like offset accounts, and flexibility.
Use the "Add scenario" feature to compare different loan options side-by-side.
At 6% interest over 30 years (P&I), repayments on a $600,000 mortgage are approximately:
$3,597 per month | $1,660 per fortnight | $830 per week
Total interest paid over 30 years: approximately $695,030. Try this example →
At 6% interest over 30 years (P&I), repayments on a $700,000 mortgage are approximately:
$4,197 per month | $1,937 per fortnight | $968 per week
Total interest paid over 30 years: approximately $810,868. Try this example →
At 6% interest over 30 years (P&I), repayments on an $800,000 mortgage are approximately:
$4,796 per month | $2,214 per fortnight | $1,107 per week
Total interest paid over 30 years: approximately $926,706. Try this example →
At 6% interest over 30 years (P&I), repayments on a $1,000,000 mortgage are approximately:
$5,996 per month | $2,767 per fortnight | $1,384 per week
Total interest paid over 30 years: approximately $1,158,383. Try this example →
Mortgage Guides
Learn more about home loans and mortgages
Offset Account Explained
Learn how offset accounts work in Australia, when they beat extra repayments, and how to estimate interest and time saved.
Read guideExtra Repayments Guide
See how extra repayments reduce interest and loan term. Learn the best strategies and common mistakes in Australia.
Read guideFortnightly vs Monthly Repayments
Fortnightly repayments can reduce interest and shorten your loan. Learn how it works and model the savings.
Read guideAmortisation Schedule Explained
Understand amortisation schedules, principal vs interest, and why early repayments are mostly interest.
Read guideLMI Calculator Guide
Learn when LMI applies in Australia, typical triggers (LVR > 80%), and strategies to reduce or avoid LMI.
Read guideInterest-Only Home Loans
Understand how interest-only repayments work, what happens after the IO period ends, and how to estimate repayments.
Read guideMortgage Quotes Australia
How to compare mortgage quotes and home loan offers in Australia. Learn what lenders check and how to shortlist the best loan.
Read guideRepayments on $500k, $600k, $700k Mortgages
See example repayments for common loan sizes and learn what changes repayments most: rate, term, offset and extra repayments.
Read guide