Mortgage Calculator Australia
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Work out the weekly, fortnightly or monthly repayments on an Australian home loan, together with total interest paid and the loan end date. This calculator uses the standard amortising loan formula used by most Australian lenders, and is designed for owner-occupiers and investors planning a principal-and-interest mortgage.
Loan details
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Your repayments
Repayment
—
per period
Total repayments
—
over the loan term
Total interest paid
—
across the term
Loan paid off by
—
final repayment date
Show year-by-year amortisation schedule
| Year | Repayments | Interest | Principal | Balance |
|---|
How to use this calculator
- Enter the amount you plan to borrow — usually the property price minus your deposit.
- Enter the annual interest rate quoted by your lender (the comparison rate gives a more accurate picture than the headline rate).
- Choose a loan term in years. Longer terms reduce repayments but increase total interest paid.
- Select how often you’ll make repayments. Fortnightly repayments at half the monthly amount typically pay the loan off faster.
- Use the amortisation schedule to see how much of each year’s repayments goes to interest versus principal.
Key assumptions
- Repayments are principal-and-interest (not interest-only).
- The interest rate stays constant for the full loan term.
- The periodic rate equals the annual rate divided by the number of repayments per year.
- No fees, redraws, offset balances, lump sums or rate changes are included.
- Payments are made at the end of each period (ordinary annuity).
- The loan end date is calculated from today’s date.
Frequently asked questions
Will fortnightly repayments save me money?
Often, yes — but it depends on how your lender structures them. If your fortnightly repayment is set to half of the monthly amount (rather than 12/26 of the monthly amount), you make the equivalent of 13 monthly payments per year, which can shorten the loan and reduce total interest. Confirm the structure with your lender.
What is the average home loan interest rate in Australia?
Owner-occupier variable rates in Australia generally sit between roughly 5.5% and 7% depending on the lender, the loan-to-value ratio and whether you’re an owner-occupier or investor. Always check the comparison rate, which includes most fees, rather than the advertised headline rate.
Does this calculator include LMI, fees or stamp duty?
No. This calculator estimates loan repayments only. Lenders Mortgage Insurance (LMI), application fees, valuation fees, ongoing fees, conveyancing costs and stamp duty are separate. Use our stamp duty calculator for state transfer duty.
Can I use this for an investment loan?
Yes. The maths is the same for owner-occupier and investor principal-and-interest loans. Note that investor rates are usually higher and many investors use interest-only loans, which this calculator does not model.
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This calculator provides general estimates only and is not financial advice. Please consult a licensed financial adviser before making any financial decisions.