Mortgage Calculator Australia 2026
Calculate your home loan repayments weekly, fortnightly or monthly — and see exactly how extra repayments cut years and interest off your mortgage. A free home loan repayment and mortgage payoff calculator for Australia.
See how extra repayments cut years and interest.
Repayment per month
$3,897
Buying a property? Don't forget upfront costs
Your repayments are only part of the picture. Estimate the one-off and annual costs too:
Frequently Asked Questions
How are mortgage repayments calculated in Australia?
Repayments use the standard amortisation formula: P × r ÷ (1 − (1 + r)^−n), where P is the loan amount, r is the periodic interest rate (annual rate ÷ number of payments per year), and n is the total number of payments. Early payments are mostly interest; later payments are mostly principal.
Do extra repayments really save money?
Yes — significantly. Extra repayments come straight off your principal, so you pay interest on a smaller balance for the rest of the loan. On a $650,000 loan at 6% over 30 years, an extra $200/month can save over $130,000 in interest and cut 5 years off the term.
Should I pay weekly, fortnightly or monthly?
Paying fortnightly (rather than monthly) is a common trick: there are 26 fortnights but only 12 months in a year, so paying half the monthly amount every fortnight means you make the equivalent of 13 monthly payments per year — paying the loan off faster with no real budget change.
What interest rate should I use?
Use your actual loan rate. As of 2026, typical Australian owner-occupier variable rates sit around 5.7–6.5%. If you're comparing scenarios, try a rate 1–2% higher to stress-test your repayments against future rate rises.
Does this calculator include fees and offset accounts?
No — it models principal and interest only. Establishment fees, ongoing fees, LMI, and offset/redraw accounts will change your actual costs. An offset account effectively reduces the balance interest is charged on, similar to extra repayments but with more flexibility.