Free Mortgage Calculator Australia
Estimate home loan repayments, total interest, and a 20% deposit scenario — weekly, fortnightly, or monthly.
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Mortgage repayment formula
Standard principal-and-interest repayments use the amortising loan formula based on loan amount, annual interest rate, and term in months.
- Monthly rate r = annual rate ÷ 12
- n = years × 12
- Repayment = P × [r(1+r)^n] / [(1+r)^n − 1]
Worked example: $600,000 loan at 5.9% over 30 years
- Loan P = $600,000; annual rate 5.9%; term 30 years.
- Monthly rate ≈ 0.4917%.
- Calculate the amortising repayment and total interest over the term.
- Try extra repayments to see interest saved and years cut.
Frequently Asked Questions
Does this include stamp duty or LMI?
Repayments are based on the loan amount you enter. Model stamp duty separately with our stamp duty calculator; LMI depends on lender and deposit.
P&I vs interest-only?
This tool focuses on principal-and-interest amortisation. Interest-only periods change cash flow and total interest.
Are rates current?
Enter the rate your lender quotes. Comparison rates and fees are not fully modelled.
Is this financial advice?
No — general estimates only. Speak to your lender or a licensed adviser before borrowing.
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