Mortgage Calculator — Free Home Loan Repayment Calculator
Estimate your home loan repayments in seconds. Adjust the loan amount, interest rate, loan term and repayment frequency to see exactly what you will pay each week, fortnight or month — plus the total interest cost over the life of the loan.
Your Home Loan Repayment Calculator
50,000 – 2,000,000
Select your currency.
0% – 12% p.a.
1 – 40 years
Choose how often you want to estimate repayments.
Optional — extra paid each period.
💡 Tip: Try switching between monthly, fortnightly and weekly repayments — fortnightly often saves thousands in interest. Add an extra repayment to see how much faster you can pay off your loan.
📅 Amortisation Schedule
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance |
|---|
How to Use the Mortgage Calculator
Our Australian Mortgage Calculator gives you an instant estimate of your home loan repayments — no sign-up required.
1. Enter the Loan Amount
Type the amount you plan to borrow. This is usually the property price minus your deposit.
2. Choose Your Currency
Default is AUD, but you can switch to USD, EUR, GBP, INR, CAD, NZD and more.
3. Enter the Interest Rate
Use your lender’s interest rate or comparison rate to estimate your repayments.
4. Choose the Loan Term
Most Australian home loans run for 25 to 30 years. Shorter terms usually mean higher repayments but lower total interest.
5. Select Repayment Frequency
Choose monthly, fortnightly or weekly repayments to see how your payment changes.
6. (Optional) Add Extra Repayments
Adding extra to each repayment can dramatically reduce both the loan term and the total interest you pay.
How the Calculator Works
The calculator uses the standard amortisation formula:
P × r × (1+r)n ÷ ((1+r)n − 1)
P = Loan amount | r = Periodic interest rate | n = Total repayments
This calculates your estimated principal and interest repayment. When you add extra repayments, the calculator deducts that amount from the principal each period — which compounds quickly to reduce both your loan term and total interest.
Smart Ways to Reduce Your Total Interest
- Make extra repayments: Extra money paid early can reduce long-term interest.
- Switch to fortnightly: 26 fortnightly payments = 13 monthly payments — one extra payment per year.
- Use an offset account: Offset balances can reduce the interest charged.
- Compare rates regularly: Reviewing your home loan every 1–2 years can help you save.
- Choose a shorter term if affordable: Shorter loans can reduce total interest.
Mortgage Calculator FAQ
Other Free Calculators
Ready to Compare Home Loans?
Now that you know your repayments, compare Australian home loan lenders.