Mortgage calculator

Trying to work out what your home loan repayments could look like?
Use our mortgage calculator to estimate your repayments based on the amount you plan to borrow, your interest rate and loan term. It is a useful starting point when comparing home designs, house and land packages or simply working out what might feel manageable each month.

Calculate your home loan repayments

Use the calculator to explore how different loan amounts, interest rates and loan terms could affect your repayments. Try adjusting the numbers to compare a few different scenarios rather than relying on one result. For example, you could see what happens if you:

Borrow a smaller or larger amount
Choose a shorter or longer loan term
Have a bigger deposit
Use a different interest rate

The result is an estimate only and should not be treated as financial advice, a loan offer or an indication that a lender will approve that amount.

Mortgage
Calculator

*Calculations assume you are a first home buyer, no LMI or stamp duty is applicable, purchasing a property to live in with a principal & interest loan at a rate of 6.05% over a 30-year loan term. This mortgage calculator provides an estimate only and does not constitute financial advice. Different rates, terms, fees or other loan amounts might result in a different comparison rate. Always consult a qualified financial professional before making any financial decisions.

Enter savings lower than the property price to see an estimate.

Estimated Repayments

$0 per month

Your Savings	$0
Available deposit	$0
Your price	$0
Deposit (0%)	-$0
Loan Amount	$0

Get in touch

What do your estimated repayments mean?

Your estimated repayment is the amount you may need to pay towards your home loan at each repayment interval, based on the information entered into the calculator.

The amount you actually pay will depend on your lender, loan structure, interest rate, fees and personal circumstances.

A mortgage calculator can help you test the numbers, but it cannot tell you whether a lender will approve the loan or whether the repayments are suitable for your budget.

What affects your mortgage repayments?

A few key things can make a noticeable difference to your repayments.

Loan amount

The more you borrow, the higher your repayments will generally be.
Your loan amount will usually be influenced by the property price, your deposit and how much you are contributing upfront.

Interest rate

Your interest rate affects how much interest you pay on top of the amount you borrow. Even a relatively small change in the rate can make a difference to your repayments over time, so it can be helpful to test a few different rates rather than relying on one number.

Loan term

A longer loan term may reduce your regular repayments, but it can also mean paying more interest over the life of the loan. A shorter term will generally mean higher regular repayments, but less interest overall.

Repayment frequency

Depending on your loan, repayments may be made weekly, fortnightly or monthly. The way your lender calculates repayments and interest can vary, so your actual repayment schedule should always be confirmed with them.

How much can I borrow?

A mortgage repayment calculator and a borrowing power calculator answer two different questions.

A mortgage calculator estimates repayments on a loan amount you enter. Your borrowing power is an estimate of how much a lender may be willing to lend you after considering things such as your income, expenses, existing debts, deposit and its own lending criteria.

If you are not sure what loan amount to enter yet, speaking with a lender, broker or finance specialist can help you understand what may be realistic for your circumstances.

Your deposit matters too

Your deposit affects how much you need to borrow, so it can make a significant difference to your estimated repayments.

The deposit you need will depend on your lender, loan type, property price and personal circumstances. Some first home buyers may also be eligible for government schemes that allow them to purchase with a smaller deposit.

Mortgage repayments and your first home budget

Your mortgage repayment is only one part of the cost of owning your first home.

When working out what feels manageable, you may also need to allow for things such as:

Council rates
Home and contents insurance
Utilities
Maintenance
Moving costs
Conveyancing or legal costs
Loan fees
Furniture and appliances
Optional upgrades or personalisation

It is worth looking at the full picture rather than focusing only on the amount you may repay each month.

What if you are buying a house and land package?

If you are considering a house and land package, you can still use the calculator to get a rough idea of repayments based on the amount you expect to borrow.

Keep in mind that house and land usually involves separate land and building contracts, and finance for a new build can work differently from buying an established home.

A construction loan generally releases funds in stages as the home is built rather than paying the entire building loan upfront.
Your lender or broker can explain how the land purchase, construction loan, progress payments and repayments may work for your situation.

First home buyer grants and support

First home buyers may be eligible for grants, concessions or government schemes that can help with some of the upfront costs of buying or building a home.

The support available depends on where you are buying, your circumstances and the property you choose, so it is worth checking the current rules that apply to you.

FAQs.

Mortgage repayments are generally based on the amount borrowed, interest rate, loan term and repayment structure.
For a principal and interest loan, each repayment contributes towards both the amount you borrowed and the interest charged by the lender.

Yes. A mortgage repayment calculator uses the interest rate you enter to estimate repayments. Your actual interest rate may be different and can change over time, so it can be useful to test your repayments using a few different rates.

If you already have an indicative rate from a lender or broker, you can use that as a starting point. If not, try a few different rates so you can see how changes might affect your repayments rather than relying on a single scenario.

A mortgage calculator provides an estimate based on the information you enter. It does not take into account every fee, loan feature or personal circumstance and should not be treated as financial advice, a loan offer or finance approval.

A mortgage repayment calculator does not determine your borrowing capacity. A lender will usually consider your income, expenses, debts, deposit, financial commitments and its own lending criteria when deciding how much you may be able to borrow.

Unless specifically shown in the calculator, costs such as stamp or transfer duty, conveyancing, loan fees, insurance and moving costs should be considered separately. First home buyers may be eligible for concessions or other government support depending on where they are buying and their circumstances.

Yes. You can use the amount you expect to borrow to get an estimate of repayments. Finance for house and land and construction can work differently from purchasing an established home, so speak with your lender or broker about how the land and construction components will be financed.

Usually, yes. A larger deposit generally means you need to borrow less, which can reduce your estimated repayments. Your deposit can also affect the types of loans or government support that may be available to you.

No. You can start exploring home designs, house and land packages and locations before your finance is finalised. Understanding your budget early can simply make it easier to narrow down the options that may suit you.