Calculators
Home loan repayment calculator
See what your mortgage will cost each week, fortnight or month, how much interest you'll pay over the term, and how your balance falls year by year.
The loan
Use the rate you've been quoted, or the one on your current loan.
Repayments
Repayment per month
$3,597.30
Principal & interest on $600,000 at 6.00% over 30 years.
Total interest
Over 30 years
$695,029
Total cost of the loan
Principal plus interest
$1,295,029
Number of repayments
monthly for 30 years
360
Email me these resultsPlus a quick note on what a lender would actually do with them.
Loan balance over time
- Balance owing
Year-by-year breakdownHow much of each year's repayments goes to interest versus the loan itself.
| Year | Repayments | Interest | Principal | Closing balance |
|---|---|---|---|---|
| 1 | $43,168 | $35,800 | $7,368 | $592,632 |
| 2 | $43,168 | $35,345 | $7,823 | $584,809 |
| 3 | $43,168 | $34,863 | $8,305 | $576,504 |
| 4 | $43,168 | $34,350 | $8,817 | $567,687 |
| 5 | $43,168 | $33,807 | $9,361 | $558,326 |
| 6 | $43,168 | $33,229 | $9,938 | $548,388 |
| 7 | $43,168 | $32,616 | $10,551 | $537,836 |
| 8 | $43,168 | $31,965 | $11,202 | $526,634 |
| 9 | $43,168 | $31,275 | $11,893 | $514,741 |
| 10 | $43,168 | $30,541 | $12,627 | $502,114 |
| 11 | $43,168 | $29,762 | $13,405 | $488,709 |
| 12 | $43,168 | $28,935 | $14,232 | $474,477 |
| 13 | $43,168 | $28,058 | $15,110 | $459,367 |
| 14 | $43,168 | $27,126 | $16,042 | $443,325 |
| 15 | $43,168 | $26,136 | $17,031 | $426,293 |
| 16 | $43,168 | $25,086 | $18,082 | $408,211 |
| 17 | $43,168 | $23,970 | $19,197 | $389,014 |
| 18 | $43,168 | $22,786 | $20,381 | $368,633 |
| 19 | $43,168 | $21,529 | $21,638 | $346,994 |
| 20 | $43,168 | $20,195 | $22,973 | $324,022 |
| 21 | $43,168 | $18,778 | $24,390 | $299,632 |
| 22 | $43,168 | $17,274 | $25,894 | $273,738 |
| 23 | $43,168 | $15,676 | $27,491 | $246,246 |
| 24 | $43,168 | $13,981 | $29,187 | $217,060 |
| 25 | $43,168 | $12,181 | $30,987 | $186,073 |
| 26 | $43,168 | $10,269 | $32,898 | $153,174 |
| 27 | $43,168 | $8,240 | $34,927 | $118,247 |
| 28 | $43,168 | $6,086 | $37,082 | $81,165 |
| 29 | $43,168 | $3,799 | $39,369 | $41,797 |
| 30 | $43,168 | $1,371 | $41,797 | $0 |
Under the bonnet
Assumptions & how we calculate
We show our working so you can judge the number, not just read it. Every lender applies its own policy on top of maths like this.
- The interest rate stays the same for the whole loan term.
- Interest is calculated per repayment period (annual rate divided by 12, 26 or 52) and repayments are made at the end of each period.
- Interest-only periods are followed by principal & interest repayments over the remaining term.
- Fees, charges and lenders mortgage insurance are not included.
- Some lenders calculate fortnightly and weekly repayments by dividing the monthly figure, which gives a slightly different result.
The information on this website is general in nature and does not take into account your personal objectives, financial situation or needs. Before acting on any information you should consider whether it is appropriate for you. Terms, conditions, fees, charges and normal lending criteria apply. Rates are subject to change.
FAQs
Questions people ask
Are fortnightly repayments cheaper than monthly?
Only if you pay half the monthly amount every fortnight. Because there are 26 fortnights in a year, that adds up to one extra monthly repayment a year and shortens the loan. This calculator shows the true fortnightly equivalent of the loan, which is slightly less than half the monthly figure.
What's the difference between principal & interest and interest-only?
Principal & interest repayments reduce the loan from day one. Interest-only repayments cover just the interest for a set period, so they're lower at first, but the balance doesn't fall and repayments jump when the period ends. You also pay more interest overall.
How much of my early repayments goes to interest?
Most of it. On a 30-year loan the bulk of each early repayment is interest, and the split gradually shifts towards principal. Open the year-by-year breakdown to see it for your loan.
Does this include fees or lenders mortgage insurance?
No. It covers the loan amount, rate and term only. If LMI or fees are added to the loan, increase the loan amount to include them.
Next step
Numbers looking good? Let's turn them into a pre-approval.
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Free, no obligation. General information only — not credit advice.