Home Loan Repayments Calculator
Enter a loan amount, an interest rate and a loan term to see what each repayment could be. You can choose weekly, fortnightly or monthly repayments, and you can add an interest only period at the start.
The calculator also shows the total interest and the total you would repay if the rate stayed the same for the whole loan.
Rates checked on
Rates checked on
An example rate. Enter the rate you have been quoted.
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- Repayment per month
- $3,792
- Total interest over the loan
- $765,267
- Total repaid
- $1,365,267
- Repayment per month if the rate rose to 9.50%
- $5,045
- Half the monthly repayment paid every fortnight
- $1,896.20 a fortnight, paid off in 24 years and 2 months, total interest $589,023
Based on 360 monthly repayments at a rate that stays at 6.5% for the whole term.
This is an estimate based on the numbers you entered and the assumptions listed below. It isn't an offer of credit or an assessment of what a lender will approve. Figures checked on 29 October 2026.
Read the guide: Home loan repayments: how they are worked out
How it works
Principal and interest repayments use the standard loan formula: each repayment covers the interest charged for that period plus some of the balance, so the balance reaches zero at the end of the term.
Interest only repayments are the balance times the rate, divided by the number of repayments in a year. The balance does not go down during that time.
If you choose an interest only period, the calculator works out principal-and-interest repayments over the years left after it ends. That is why those repayments are higher than on a loan that was principal and interest from the start.
Assumptions
- The interest rate stays the same for the whole term. Variable rates change, and fixed rates usually last 1 to 5 years.
- Weekly and fortnightly repayments use the yearly rate divided by 52 or 26. Some lenders instead set fortnightly repayments at half the monthly amount, which pays the loan off sooner. This calculator does not do that.
- Fees are not included: no application, ongoing or package fees, and no lenders mortgage insurance.
- Interest is charged once per repayment period. Most lenders work interest out daily and charge it monthly, so real repayments can differ by a small amount.
Questions people ask
Are fortnightly repayments cheaper than monthly?
Paying fortnightly at the true fortnightly amount makes little difference. Paying half the monthly amount every fortnight means 26 half payments a year, which is the same as 13 monthly payments, so the loan is paid off sooner and you pay less interest.
Why are repayments higher after an interest only period?
During the interest only period you do not pay off any of the balance. When it ends, the whole balance has to be repaid over fewer years, so each repayment is larger.
Does this include lenders mortgage insurance?
No. If the insurance is added to the loan, add it to the loan amount to see its effect on repayments.
Sources
Checked 29 October 2026. Official pages can change; check them before you rely on a figure.