A very important element to consider when investigating the purchase of a property is the likely amount of your future ongoing monthly loan repayments to your chosen lender.

Our Loan repayment calculator provides an estimate of what your monthly, fortnightly or weekly repayments would be, and how much interest you would pay to your lender over the loan term.

The calculator allows you to simulate different scenarios by changing interest rate, loan term, and payment frequency. You can use the results to decide on the right loan product from variety of options available in the market, saving on interest paid over the life of the loan.

How to Use the Home Loan Repayment Calculator

Our home loan calculator is easy to use. All you do is to enter the relevant variables following the prompt, to calculate monthly payments, total interest on the loan, and total amount of interest payable over the term of the loan.

Loan amount. This is the amount you intend to borrow. This will normally be the amount required to settle on your property purchase but may exceed this amount if you are also incorporating mortgage insurance into the loan amount.

Interest rate. This rate will be determined by your lender and subject to change. If you select variable rate home loan, rate will fluctuate over the term of your loan. Rate is subject to change even between the time you selected the loan and the settlement date. If your preference is a fixed rate loan, rate will remain unchanged during the fixed term. Lenders may offer you a fixed term generally, between 1 and 5 years.

Loan term. This is the period within which you intend to repay your loan. You have options to select from 15 to 30-year terms. It is important to understand that a shorter loan term reduces total interest paid over the term of the loan, but increases your monthly payments, which may create cashflow issues for you.

Repayment frequency. Monthly, Fortnightly, or Weekly depending on your preferences and the relevant lending institutions willingness to accommodate them.