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Mortgage calculator

How much will my repayments be?

Page reading time: 3 minutes

This calculator helps you work out:

Disclaimers

  • This is a model, not a prediction. Amounts and repayment periods are estimates only, actual amounts may be higher or lower.
  • Results are based on information you provide and do not take your personal circumstances into account.
  • It applies to loans where your regular repayment includes both interest and the gradual repayment of the amount borrowed.
  • The calculator is not intended to be your sole source of information when making a financial decision. Consider getting advice from a licensed finance professional, if you need it.
  • Using this calculator does not guarantee you will be eligible for a loan. You will need to satisfy your lender's lending criteria.
  • The average interest rate reflects the most recent Economic and Financial Statistics data (Housing¬† Lending Rates) published by the Reserve Bank of Australia.¬†

Assumptions

  • Interest rates do not change for the life of the loan.
  • Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly, monthly quarterly or annually.
  • It does not take into account up-front costs such as loan establishment fees.
  • It does not consider your ability to make the repayments shown.
  • To help you consider interest rate changes, you can explore the effect of a higher or lower interest rate on your repayments.
  • Affordable repayments cannot be less than the fees entered.

FAQs - frequently asked questions

Q: How can I see the effect of a lump sum payment on the length of my loan?

A: Enter your current loan details on the 'How can I repay my loan sooner?' section. Then reduce the amount owing by the lump sum amount.