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Home loan repayment calculator

Use our home loan calculator to estimate what your monthly mortgage repayments could be. Whether you're refinancing or just wanting to understand how much you can afford, all you have to do is enter how the amount you would like to borrow, interest rate, home loan term, payment frequency, and repayment type (either principal & interest or interest-only).

Estimated savings from repayments graph

Your estimated repayments are


Calculator assumptions

How to calculate your mortgage repayments

When you take out a home loan, you are required to make regular minimum interest repayments (as well as any fees) for the amount you have borrowed.

To use our mortgage repayment calculator, there are a few key pieces of information you will need to get the most accurate estimate of your mortgage repayments.

  • The principal loan amount
  • Your expected loan interest rate
  • The length of the loan term

The principal loan amount is the amount of money you plan to borrow from your bank or lender. For example, if the property is valued at $650,000 and you have a 20% deposit of $130,000 then the principal loan amount is $520,000.

If you're not sure about what interest rate to apply, you can use the default interest rate provided or use an advertised comparison rate to get a more accurate estimate of your home loan repayments.

Our home loan repayments calculator also allows you to opt for either a principal and interest or interest-only loan, and see how much you could save in interest if you made regular extra repayments over the life of your loan.

borrower comparing refinancing options borrower comparing refinancing options


In addition to making your principal and interest repayments, you may need to consider having to pay for certain fees such as LMI if you don’t have at least a 20% deposit.
Yes, your loan repayments can increase if you have a variable interest rate that increases during your repayment period or if you switch from an interest-only loan to a principal and interest loan.
Most home loans are 'principal and interest', which means your repayments reduce the amount of debt outstanding (the principal) as well as covering the interest charges for the period. With a principal & interest loan, you will pay off the loan over time.

With an interest-only loan, you only pay the interest on the amount you have borrowed.

These interest-only loans are for a set period (for example, five years) after which the loan changes to a principal & interest loan.
At loans.com.au, we require a minimum deposit of 10% of the purchase price of the property, or the current value of the property if you are refinancing.

To avoid paying Lenders Mortgage Insurance (LMI), borrowers need a 20% deposit in most cases.
A comparison rate includes both the interest rate as well as any fees or charges associated with the specific home loan. The comparison rate helps borrowers understand the true cost of a loan when comparing products from different lenders.
Yes, you can split your home loan to have both variable and fixed interest rate payments. Splitting your home loan provides the certainty of a fixed rate, but lets you enjoy the benefit of any rate cut, make additional repayments and get access to your offset sub-account.
The interest rate affects the amount you will be required to repay over the life of your home loan. If you have a variable rate home loan, when interest rates rise it will increase your mortgage repayments. In contrast, if interest rates fall your repayments will be lower. If you choose a fixed-rate loan, you do not have to worry about changes in interest rates until the fixed period is over.
As noted, it's essentially the price you pay for using your lender's money. When you take out a loan, an interest rate will be applied on top of the amount borrowed, and this will form your regular repayments.

For example, if you take out a $100,000 loan, your principal starts at $100,000. If your loan has a 4.01 per cent interest rate, you're paying $4.01 cents annually for every $100 you owe. Because your balance usually decreases over the course of the year, however, you won't pay 4.01 per cent of $100,000, but a slightly smaller amount. That's because interest is calculated based on the balance each month.
There are a few tricks that can help you pay off your home loan sooner such as making extra repayments, paying your mortgage fortnightly, and putting lump sums like tax returns towards your outstanding loan balance.

In addition, many home loans come with product features like offset sub-accounts that help reduce your interest paid, allowing you to pay down more of your principal and take years off your home loan.
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Our Awards

We’re efficient. For the last 10 years, we’ve won awards each year for our innovation, low rate home loans and car loans and extras like our offset sub-account from experts like RateCity, Canstar and WeMoney to name a few.

2024 WeMoney - Best Value for Refinance
2023 WeMoney - Best for Value (Variable)
2024 Mozo - Expert's Choice for Best Green Home Loan
Gold Award - Best Green Home Loan
2022 WeMoney - Outstanding Customer Service

Whatever stage of the home loan journey you're at, we can help


I'm buying my next home

We can approve your application quickly to help you get the keys to your next home as soon as possible, and with our low rates, it's possible for you to own your home sooner.


I'm refinancing

At loans.com.au, we make it easy for you to start saving thousands on your home loan repayments, as soon as possible. You don't even have to contact your old lender - we can do the hard work for you.


I'm buying my first home

The friendly lending specialists at loans.com.au are here to help you as much as you need when buying your first home. We can walk you through all your options to find the right loan for you, and we have a number of handy guides and videos available to help with the process.


I'm building a home

When you're building or doing major renovations, you have a lot on your mind. We can help take the stress out the finance with low rates and an easy online application so you can focus on the build.

Got a question? We can help


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If you need help using our Home Loan Repayment Calculator or are ready to get started on your home loan journey, send us a message via Live Chat and we’ll get back to you instantly.


Talk to a home lending specialist

Our experienced lending specialists can answer any questions you have on our home loans or the home loan process.

Important information

The estimated repayments provided should be used as a guide only, should not be relied on as true indication of your home loan repayments, or a quote or indication of pre-qualification for any home loan product. The figures are based upon the information you put into the calculator. We've made a number of assumptions when producing the calculations including:

  • Loan term and loan amount: We assume the loan term and loan amount have been correctly entered into the calculator.

  • Interest rates: We assume that the rate you enter, is the rate that will apply to your loan for the full loan term – even if you choose:

    • a variable rate; or

    • an interest-only rate which, in practice, will only apply for a limited period after which a different rate will apply.

  • Interest and repayments: The displayed total interest payable is the interest for the loan term, calculated on the entered interest rate. We make the following assumptions about repayments:

    • repayments are made monthly.

    • your annual interest charge is divided equally over 12 monthly payments (in practice, interest is calculated daily and charged monthly which can lead to your interest charge varying between months).

    • interest is charged to the loan account at the same frequency and on the same day as the repayments are made (this may not be the case in practice).

    • only your initial repayment amount is calculated. We assume that this repayment amount is payable for the loan term. In practice, repayment amounts can change for a variety of reasons.

    • weekly and fortnightly loan repayment amounts are assumed to be a quarter and a half of the monthly repayment amount respectively.

    • When selecting interest-only (IO) repayments, it is assumed the loan reverts to principal and interest (P&I) repayments after five years.

Conditions, eligibility, and lending criteria apply.

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