Home loan repayment calculator.

For principal-and-interest loans, each selected frequency uses its own periodic rate and amortising schedule. True monthly, fortnightly and weekly schedules run for the selected term; accelerated fortnightly pays half the monthly amount every fortnight and can finish sooner. Interest-only assumes interest payments for the whole selected term with the unchanged principal due at term end.

Principal-and-interest repayments reduce the balance over the schedule. In this calculator, interest-only payments cover periodic interest without reducing principal, and the full principal is included as a balloon amount at the end of the selected term. Real products commonly switch to principal-and-interest after a shorter interest-only period; that staged product structure is not modelled here.

A regulated comparison rate combines interest with specified fees and charges using prescribed loan and repayment assumptions. This calculator does not collect those product cash flows, so it does not invent or display a comparison rate. Check the lender's official comparison rate for the exact product and read which fees are included.

True fortnightly calculates the repayment over 26 periods a year and keeps the selected term. Accelerated half-monthly divides the monthly repayment by two and pays it 26 times a year, equivalent to thirteen monthly amounts rather than twelve, so its schedule can finish earlier and charge less interest. The accelerated method is not offered for an interest-only loan because extra amounts would reduce principal.

More than any other input. On a $600,000 loan over 30 years, each 0.25% rate move shifts the monthly repayment by roughly $90–100, so a full percentage point is over $350 a month, thousands per year, and tens of thousands of dollars of interest across the term. Drag the rate slider in this home loan repayment calculator to stress-test your budget: lenders do something similar, assessing your application at a buffer above the actual rate, so it pays to know your repayments survive a rate 2–3% higher.

A shorter term means higher repayments but dramatically less total interest, the loan simply has fewer years to accrue it. Stretching the same loan from 25 to 30 years lowers the monthly repayment, which helps serviceability, but can add tens of thousands of dollars to the lifetime interest bill. A common middle path is taking the 30-year term for flexibility and then repaying at the 25-year pace, you get the lower obligation if money gets tight and the interest saving when it doesn't. Compare both terms above and look at the total-interest line, not just the repayment.

Every extra dollar comes straight off the principal, and because interest is charged daily on the outstanding balance, it stops accruing interest immediately and keeps doing so for the remaining life of the loan. Modest but regular extra repayments, $200 a month on a typical loan, can cut years off the term. Most variable loans allow unlimited extra repayments, often with a redraw facility if you need the money back; fixed loans usually cap them, with break costs beyond the cap, so check your loan's rules before committing large sums.

An offset is a transaction account linked to your home loan: the balance sitting in it is subtracted from your loan balance when daily interest is calculated, so $40,000 in offset against a $600,000 loan means you're charged interest on $560,000. Your repayment amount doesn't change, but more of each repayment becomes principal, shortening the loan. The practical advantage over paying the money in directly is access, offset funds remain yours to spend without redraw requests, which also matters for tax flexibility if the property later becomes an investment.

Lenders price by risk tiers based on your loan-to-value ratio. Borrow 80% or less of the property's value and you'll typically access the sharpest advertised rates with no lender's mortgage insurance; above 80% the rate usually steps up and an LMI premium, often thousands of dollars, is added or capitalised onto the loan. The property's assessed value is half of that equation, which is why a valuation that comes in low can push you into a worse band. Pair this calculator with our LVR calculator to see where you'd land.

Early on, most of it is interest: on a new 30-year loan at typical rates, well over half of each repayment services interest, because the balance is at its largest. As the principal falls the split gradually reverses, and in the final years almost every dollar reduces the balance. The doughnut in this calculator shows the lifetime split of total interest against principal for your inputs. If the interest share looks confronting, that's the argument for extra repayments, a shorter term, or an offset, each attacks the balance the interest is charged on.