Home Loan Repayment Calculator – Work Out Your Monthly Repayments
Estimate your monthly, fortnightly or weekly home loan repayments and see the total interest you’ll pay over the term. This home loan repayment calculator makes it easy to compare scenarios before you commit to a lender.
Once you know your repayments, check how much you could borrow with our borrowing power calculator, or see the savings an offset account could deliver. Ready to lock in a sharper rate? Speak with a broker.
Calculators
What is inside your repayment
On a $600,000 loan at 5.50% over 30 years, the minimum repayment is $3,407 a month. In month one, $2,750 of that is interest and only $657 comes off what you owe. That split flips slowly. By the last few years almost all of each payment is principal. It is why the first decade of a home loan feels like running on the spot, and why anything that gets principal down early has an outsized effect.
Fortnightly repayments: the trick that works and the one that does not
Paying half your monthly amount every fortnight means 26 half-payments a year, which is 13 months of repayments, not 12. On the $600,000 example that quietly clears the loan in 24 years and 11 months and saves about $123,000 in interest. Ask for "half-monthly fortnightly" specifically. Some lenders simply divide your monthly repayment by 12 and charge it 26 times, which saves nothing.
What one rate rise does
The same $600,000 loan at 6.50% instead of 5.50% costs $3,792 a month. That is $386 more, or about $139,000 more interest over the full term. Before you settle on a loan amount, run the calculator at a rate one per cent higher than the one you are being offered and make sure the number still fits your budget. That is roughly the buffer a lender applies when assessing you, so if it hurts on paper it will hurt in real life.
Shorter term, bigger repayment
The same loan over 25 years instead of 30 is $3,685 a month, $278 more, and you own the place five years sooner. Most people are better off keeping the 30-year term and paying the extra voluntarily, because a voluntary extra can be stopped in a bad month while a contractual one cannot.
Related tools: the Extra Repayment Calculator shows what a set amount on top of the minimum does, and the Effective Interest Rate Calculator shows what an offset account does to the same loan.
Last updated: October 2026
Home Loan Repayments — Frequently Asked Questions
How are my home loan repayments calculated?
Repayments are based on your loan amount, interest rate and loan term. Most loans use principal-and-interest repayments, where each payment covers the interest charged plus a portion of the amount you borrowed.
Will paying fortnightly or weekly reduce my loan faster?
Often, yes. Because there are more than twelve months’ worth of fortnights in a year, switching to fortnightly repayments can mean you pay a little extra annually — which can reduce your term and total interest.
What happens to my repayments if interest rates rise?
On a variable-rate loan, a rate rise usually increases your minimum repayment. It’s worth stress-testing your budget against a higher rate so you’re not caught out — the calculator lets you model different rates.
Should I choose a shorter or longer loan term?
A shorter term means higher repayments but far less interest overall; a longer term lowers each repayment but costs more across the life of the loan. The right balance depends on your cash flow and goals.
Can I reduce my repayments by refinancing?
If your current rate is higher than what’s available, refinancing to a sharper rate can lower your repayments or help you pay the loan off sooner. We can review your current loan and compare options for free.
Could your repayments be lower?
Most people we review are paying more than they need to. Leave your number and we’ll check your rate and tell you in 10 minutes. Free, no obligation, no pressure.