Loan repayment calculator

Before you commit to a home loan, you want one number: what will this actually cost me each month?

Our loan repayment calculator estimates your repayments based on your loan amount, interest rate, term and how often you pay, so you can test a few scenarios before you settle on one.

It won’t replace a conversation with your adviser, but it’s a good way to sanity-check a lender’s numbers or compare two loans side by side.

It’s a simple tool that estimates your regular repayments on a home loan or other loan type. Enter the loan amount, interest rate, term and repayment frequency, and it shows you roughly what you’ll need to pay each period.

It takes the guesswork out of budgeting. Whether you’re buying your first home, upgrading or refinancing, knowing your likely repayment upfront makes it much easier to choose the right loan and avoid surprises later.

For a broader look at how interest rates and loan terms interact, Moneysmart’s mortgage repayment calculator is a useful independent reference.

• Shows your estimated repayment before you apply, so there are no surprises at settlement.
• Lets you test different loan terms and rates side by side.
• Helps you compare weekly, fortnightly and monthly repayment options.
• Gives you a starting figure to bring into your first conversation with an adviser.

The rate type you choose affects how (and whether) your repayments move over time.

• Fixed rates lock your repayment in for a set period, usually one to five years. That makes budgeting simple, though you’ll typically pay a break fee if you exit early.
• Variable rates move with the market and your lender’s settings. Repayments can rise or fall, which trades certainty for flexibility, including features like extra repayments and offset accounts on many variable loans.

Run both scenarios through the calculator to see how a rate change or a switch in loan structure would actually land on your budget.

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