Mortgage Repayment Calculator

How To Calculate Mortgage Repayments?

Calculating likely mortgage repayments can be simple thanks to Mortgage House’s home loan repayment calculator. Buying a home or refinancing your current mortgage is a long-term strategy, and no doubt you have been planning it for months, even years. Having access to an online calculator that can tell you what your mortgage repayments may be, if your home loan application is successful, is a key part of planning for your future. Not only can a mortgage calculator help you answer the question of ‘how much can I borrow for a mortgage’, but it will also help you budget for what lies ahead. A home loan calculator can help you hone in on the type of loan that may be suitable for you and your family, and the best way for you to make repayments.

Perhaps you would prefer a fixed rate home loan. If so, when you use the home loan calculator below, enter the loan interest rate amount identified in a suitable fixed rate home loan. If you think a variable rate loan is better suited to you and your property goals, then you can use a mortgage repayment calculator to adjust the interest rate up and down. This can help you mimic rises and falls in interest rates, which may occur over the life of the loan. When you do this, you will notice the mortgage calculator will automatically adjust your repayment amounts. By adjusting the loan term and loan amount, you can also paint a picture of how interest rate increases or decreases can impact your budget once you have made a few years’ worth of mortgage repayments.

Importantly, if you are using a mortgage calculator to understand how your mortgage repayments may change if you refinance your current loan, or switch to another, then make sure you speak to our lending specialists first. They can talk you through any extra fees or charges that may arrive from paying a mortgage off early or setting up another one. Once you have done that, ensure the figures in the mortgage repayment calculator are adjusted accordingly. It may only be a small adjustment over the life of the loan, but it can be an important one.

An online calculator such as the one below will also ask you to add the amount of the loan you are applying for. It is important here to not add the value of the home, but the value of the loan. Most banks and lenders will answer your ‘how much can I borrow for a mortgage’ question with an answer of about 80% of the value of the property. However, if you don’t have a 20% deposit, there are a range of other options available, such as Lenders Mortgage Insurance, or other  types of loans. It is also important to remember when you are using a home loan repayment calculator to ensure you add any stamp duty to the loan amount. Our Stamp Duty Calculator can help identify how much that may be, depending on where in Australia you live.

Repayment Calculator

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
How much do you want to borrow?
What is the type of the loan?

& Interest

Interest Only

Your Repayments

  • Weekly
  • Fortnightly
  • Monthly

$1,798.65 per month

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. Please note that your actual fortnightly repayment would be equal to the monthly repayment amount divided by two. Weekly repayments would equal the monthly repayment amount divided by four. If you choose to pay fortnightly or weekly, your actual repayments will be higher than repayments shown on this page. You can reduce the term of your loan if you choose to make repayments fortnightly or weekly. We recommend you seek independent legal and financial advice before proceeding with any loan.

What Is A Mortgage Repayment Calculator?

A mortgage repayment calculator is a mortgage calculator Australian house hunters have access to, to help them in their search for a suitable home loan. It can show you what your home loan repayment options are, and how much interest you will repay over the life of a loan. However, a mortgage repayment calculator is just one home loan calculator that is available to Mortgage House customers. Others include:

  • Borrowing Power Calculator

    This online calculator is one of Mortgage House’s most popular features and can give you an indicative answer to the question ‘how much can I borrow for a mortgage’? Make sure you fill in all the information as accurately as possible. When you do, you’ll get an indication of your borrowing power, or how much you may be able to borrow from a bank or lender. Adjust the figures, based on any savings you can make, or any extra income you have access to, to see how your borrowing power changes.

  • Best Rate Mortgage Calculator

    Once you have found your borrowing power, the next step is to look through Mortgage House home loans to find one that may be suitable for you and your family. For most people, the interest rate can be a deciding factor in what kind of home loan to choose. The Best Rate online calculator searches through Mortgage House’s home loans, based on your criteria, to help you narrow down your options.

  • Stamp Duty Calculator

    House purchases attract stamp duty, which is a tax levied on the sale itself. It can be seen as a hidden cost to buying a property, and it can come as a shock, especially if you are purchasing your first home. How much you pay in stamp duty depends on the sale price of the new home, and what Australian state or territory you live in. Mortgage House’s Stamp Duty Calculator can work it all out for you. When it comes to mortgage repayments, it’s important to include the stamp duty costs in your home loan application and, as a result, in your home loan repayment calculator.

  • Switching Mortgage Calculator

    Your current home loan may have suited your situation at the time, but it may not now. By switching home loans, you may be able to save money, and even receive additional features you don’t have now. This online calculator helps you understand how much you may be able to save. It is important to take into consideration any  annual fees or charges you may attract when switching home loans.

  • Budget Planner Calculator

    Of all the mortgage calculators Australians have at their disposal, this one is one of the most important. It can help you both plan for the future, and help you save today. Simply by filling in, as accurately as you can, all the details of this online calculator, you will get a better understanding of your finances, and how much you may be able to afford in mortgage repayments. When you use this information with our Borrowing Power CalculatorMortgage Repayment Calculator you can get a clearer picture of your home loan options.

What Is The Monthly Repayment On Mortgage Calculator?

One of the great things about Mortgage House’s online calculator options is that they give you lots of information, to help you find a suitable home loan.

Our Mortgage Repayment Calculator is no different. When you enter all the details in the right place, you’ll receive information about your repayments, including how much they will be, and how much  total interest you will pay over the life of the loan. A home loan calculator will also tell you how much of your repayments will be made up of the principal amount and how much will be made up of interest. In the earlier stages of making mortgage repayments, you will pay more interest than principal. Obviously, if you have an interest only home loan, you will only pay back interest for an agreed period. When you adjust the home loan repayments, you will also be able to discover how much you can save by paying off your mortgage sooner. Run your mouse over the graph on the Mortgage Repayment Calculator to see the difference between how much interest you have to pay, and how much principal, as the life of the loan goes on. Another thing the online calculator options can show you is the difference between weekly, fortnightly and monthly mortgage repayments. Monthly home loan repayments are a popular option for a lot of Australians, and allows them to budget easily, by giving them the same date each month to work towards.

For most Australians, the size of the interest rate, and therefore their monthly repayments, is a key factor in which home loan they believe is suitable for them and their family. Our Best Rate Mortgage Calculator can help you find an interest rate that aligns with your requirements and financial situation, and may also help you narrow down your property search.


What is the price of the property that you want to buy?
How much do you want to borrow?
What type of loan do you require?

Full Doc: Home loan suitable for people who are able to provide full evidence of their income when applying for a loan.

Low Doc: Home loan suitable for the self employed or people who are unable to provide full financial documents when applying for a loan.

Full Documentation

Low Documentation

Do you want a fixed or variable rate loan?



Mortgage Deal Interest Rate Annual Fee Comparison Rate Repayments
Monthly Fortnightly Weekly

Important Disclaimer: This information is intended as a guide only. The calculation of fortnightly and weekly instalments varies with the specific loan product. Higher loan repayments will be required on principal and interest loans where the instalment calculation is based on half the monthly payment for a fortnightly payment or a quarter of the monthly payment for a weekly payment. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House's prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan.

What Else Can The Mortgage Borrowing Calculator Show Me?

A mortgage calculator in Australia can give you a range of information that can frame your purchasing decisions. However, it is important when you are trying to answer questions like ‘how much can I borrow for a mortgage’ and ‘how much will mortgage lenders lend’ that you are honest with your self-appraisal. That will help the mortgage calculator give you a better indication of your borrowing power, but it will also give you a better understanding of whether or not you can meet your regular mortgage repayments.

Initially, a loan or home loan repayments calculator can help you understand important considerations:

  • How much can I afford to repay?
  • How much will a bank or lender allow me to borrow?
  • Do I have sufficient savings for a deposit?

For established home owners and investors, the mortgage repayment calculator can guide ongoing decisions related to managing and paying off the mortgage. Considerations include:

  • Should I review the mortgage and investigate possible savings?
  • Is it a good time to refinance the loan?
  • Should I top up the loan?
  • Do I need loan insurance?

A Borrowing Calculator, such as the Mortgage House online calculator below, can help you get an indication of how much you may be able to borrow, but it can show you a lot more. You will also receive an understanding of how much your mortgage repayments will be, for the loan details you have entered. One the great flexibilities of a Borrowing Calculator, and all of Mortgage House’s online calculator options, is that you can manipulate them to mimic your options or plan for a range of situations. If you choose a home loan with a higher interest rate, then the amount you may be able to borrow will change. You can also immediately give you or your partner a pay rise, to see how your borrowing power changes. Alternatively, if you or your partner is taking time away from work, for parenting leave for example, then you can manipulate the online calculator and see how it impacts your borrowing power. Importantly, a borrowing capacity calculator also allows you to decrease your expenses, which can show you the difference that making a few money-saving sacrifices can make to your borrowing power.

Like all of Mortgage House’s mortgage calculator range, a Borrowing Power Calculator will also give you a clear indication of what your mortgage repayments will be over the life of the loan. It will break it down into interest repayments and principal, unless you have chosen an interest only home loan, and will make it clear how much you will pay over the life of the loan. Significantly, the Borrowing Capacity Calculator will also give you an overall figure of how much you may be able to borrow. If you are unhappy with your borrowing power figure, don’t give up. Contact our lending specialists and we may be able to help you find a suitable home loan and reach your property goals.


Loan Details

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
Will the loan be for yourself or joint with another applicant?



Any person who depends on you for financial support e.g. your children?

Annual Net Income

Your net income per year i.e. after tax
Your partner's net income per year i.e. after tax
Any other income you may receive each year e.g. rent from a property, interest on savings or dividends from shares

Monthly Expenses

Personal monthly expenses e.g. rent, bills, shopping, fuel etc.
Any repayments you have to make each month to cover your credit cards or other loans
Any other monthly expenses

Your Monthly Repayment

per month

You Can Borrow Up To

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House's prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan. The Comparison Rate for each of the home loan products contained in this page is based on a loan of $150,000 over a 25 year term. Fees and charges may be payable.

WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. * This mortgage calculator shows indicative repayments based on 12/26/52 equal repayments for monthly/fortnightly/weekly options.

An important first step, however, is to find the type of home loan that may suit you and your family’s financial situation. Whatever kind of home loan you are after, Mortgage House can help you find a suitable option. We have a range of home loans available, whether you’re buying your first home or your fifth, whether you’re building, investing, renovating or refinancing.