Our free Australian home loan repayment calculator gives you an instant estimate of your mortgage repayments based on three key inputs: your loan amount, the interest rate (% per annum), and your loan term in years. Simply drag the sliders or type directly into the fields — results update in real time, with no form submission required.
Toggle between monthly, fortnightly, and weekly repayment frequencies. Many borrowers are surprised to find that switching from monthly to fortnightly repayments can cut years off their mortgage and save tens of thousands in interest — try it yourself above.
Understanding Your Results
The calculator displays four key metrics:
Repayment amount — what you pay each period (monthly, fortnightly, or weekly) based on a standard principal-and-interest loan. Total repayable — the sum of all repayments over the full loan term, including interest. Total interest — the total interest cost above your loan principal. On a 30-year loan, this can easily exceed the original loan amount. Interest share — what percentage of your total repayments goes purely to interest, giving you a clear picture of the real cost of borrowing.
The Amortisation Chart shows how your outstanding balance, monthly principal, and interest payments shift over time. In the early years, the bulk of each repayment is interest. As you progress, the principal component grows and your balance falls faster — this is the amortisation effect. The Principal vs Interest donut chart makes the total cost split immediately visible.
Frequently Asked Questions
Your borrowing capacity depends on your income, living expenses, existing debts, deposit size, and the specific lender's assessment criteria. Most Australian lenders will lend up to 80% of a property's value (LVR) without requiring Lenders Mortgage Insurance (LMI), and up to 95% LVR with LMI. First home buyers may also be eligible for government schemes that allow borrowing with as little as a 5% deposit and no LMI. A home loan specialist at Dark Horse Financial can assess your exact capacity at no cost.
The comparison rate rolls the interest rate together with most standard fees (establishment fees, monthly account fees) into a single annual percentage. It gives a more accurate picture of the true cost of a loan than the headline rate alone. When comparing home loans, always look at the comparison rate — a loan with a low advertised rate can still be expensive if fees are high. Note that this calculator uses the nominal interest rate; your actual repayments will be affected by your lender's specific fee structure.
Making fortnightly repayments (26 per year) is mathematically equivalent to making 13 full monthly repayments instead of 12. That extra month's repayment each year reduces your principal faster, which reduces the interest charged — and can take 3–4 years off a standard 30-year loan. Weekly repayments work similarly. Use the frequency selector above to compare the impact on your specific loan.
An offset account is a savings or transaction account linked to your home loan. The balance in the offset account is subtracted from your outstanding loan balance before interest is calculated each day. For example, a $600,000 loan with $50,000 in an offset account means you're only charged interest on $550,000. This calculator does not account for offset savings, so your actual interest cost could be significantly lower if you maintain a healthy offset balance. Speak to a broker for a personalised estimate.
A fixed rate locks in your interest rate — and therefore your repayment amount — for a set period (typically 1–5 years), giving you certainty and protection if rates rise. A variable rate moves up or down with the lender's standard variable rate, which generally tracks RBA cash rate decisions. Variable loans usually offer more flexibility (extra repayments, offset accounts, redraw), while fixed loans may come with break costs if you exit early. A split loan combines both. Our brokers can help you weigh the trade-offs based on your circumstances.
This calculator uses the standard principal-and-interest amortisation formula used across the mortgage industry, so the figures are mathematically accurate for a static interest rate. It does not account for lender fees, LMI, offset account balances, redraw activity, variable rate changes over time, or lender-specific rounding conventions. Treat the results as a reliable starting point — your actual repayments will depend on the specific product and lender you choose. Contact the Dark Horse Financial team for a precise, personalised quote.
Ready to Find the Right Home Loan?
This calculator is a great starting point — but every borrower's situation is different. Our team compares hundreds of products across a broad lender panel to find the rate, features, and structure that fit your life.
Disclaimer: The results generated by this calculator are indicative estimates only and are provided for general information purposes. They do not constitute an offer of finance, credit approval, or a formal quote and do not take into account your personal objectives, financial situation, or needs. Actual repayments, interest rates, fees, and eligibility criteria vary by lender and individual circumstances. You should not make any financial decision based solely on these results. We strongly recommend speaking with a qualified finance specialist. Dark Horse Financial Pty Ltd is a Credit Representative No. 465 325 of Buyers Choice Licencing Pty Ltd ACN 626 172 281 (Australian Credit Licence No. 509484). To approved applicants only.
