Mortgage repayments make up a large portion of your monthly budget, whether you’re purchasing a home, refinancing or saving for renovations. In Australia, repayment amounts are influenced by factors such as interest rates set by lenders, loan terms of up to 40 years and repayment types like principal and interest or interest-only.
Choosing the right loan structure can make a major difference in managing your cash flow and long-term financial stability. Even small adjustments — like switching from monthly to fortnightly repayments or securing a lower interest rate — can drastically impact the total amount you pay over time.
A mortgage calculator in Australia is a helpful tool for estimating your regular payments, total interest costs and overall loan breakdown. Use our mortgage repayment calculator to make informed decisions and plan your home loan with confidence.
Using our mortgage calculator is easy. Here’s what you need to do:
Enter the amount you’re looking to borrow, the type of loan, the loan term and the interest rate.
Select monthly, fortnightly or weekly payments.
See your estimated repayments, total interest and loan breakdown.
Try different scenarios to find the best option for you.
Try our mortgage calculator now!
To get the most out of our mortgage repayment calculator, try adjusting different loan variables and see how they impact your repayments. Here are some suggestions from our experts:
By exploring different scenarios, you can find a mortgage structure that works best for your financial circumstances.
While our mortgage calculator provides an estimate, your actual repayments may vary based on lending criteria, loan features and fees. For personalised mortgage advice, contact us at Shore Financial, and one of our brokers can help you find the right loan for your needs.
Want to learn more? Explore our client stories to see how we’ve helped others secure the right home loan, visit our learning hub for mortgage insights or check out our career openings if you’re interested in joining our team.
Mortgage repayments are calculated based on the loan amount, interest rate, loan term and repayment type. The formula considers how much of the loan is being repaid with each instalment and how interest is applied over time. If you choose a principal and interest loan, your repayments gradually reduce the loan balance while covering interest. With an interest-only loan, your payments only cover interest for a set period before switching to higher principal and interest repayments.
Yes, a mortgage loan repayment calculator estimates the total cost of your loan, including the total interest payable over the entire loan term. This helps you see the long-term impact of different loan structures and interest rates. However, it’s important to remember these are estimated figures, and the total cost of your loan will come down to the rate you receive from the lender.
Yes, the results include the total interest payable over the life of the loan, helping you understand the long-term cost of borrowing.
If you have a variable-rate home loan, your repayments can increase or decrease when interest rates change. You can use our mortgage calculator to compare different interest rates and see how they affect your repayments.
Making extra repayments can reduce the total interest you pay and shorten your loan term. Even small additional payments can make a significant difference over time. Try adjusting your loan amount in the calculator to see how repaying faster could impact your overall costs.
Our mortgage calculator includes an offset and extra repayments function, allowing you to view these figures without modifying your initial loan amount.
This will come down to your individual circumstances and how much you can afford to repay. However, more frequent repayments can help you pay off your loan faster. For example, switching from monthly to fortnightly payments means you’ll make an extra month’s worth of repayments each year, reducing your interest costs over time and clearing your mortgage balance faster.
This calculator provides an estimate, but actual repayments may vary depending on lender fees and criteria, interest rate changes and loan features. For personalised advice, speak with a Shore Financial mortgage broker.
The right property loan depends on your circumstances. Explore the most common loan types below, and then get in contact with a Shore broker to learn what’s right for you.
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