Mortgage Calculator



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Calculate your home loan repayments

A home loan is one of the biggest expenses you’re ever likely to have. That’s why you should calculate your potential home loan repayments before taking out a mortgage, to work out what kind of home loan you can afford.

Using Savings.com.au’s Mortgage Calculator, you can roughly calculate how much your home loan repayments could be on a monthly, fortnightly or weekly basis so you can compare it against your own budget.

To use our Mortgage Repayment Calculator, simply enter the interest rate, loan term, loan amount and whether the loan has principal and interest or interest-only repayments.

Savings.com.au’s mortgage repayment calculations are estimates only; consider speaking to a professional to get dedicated home loan advice.

Tips on paying off your mortgage faster

  • Repaying a home loan fortnightly (half your monthly repayment) or weekly (a quarter of your monthly repayment) results in an extra month’s worth of repayments on your mortgage each year, which helps you pay off the loan years earlier and save thousands in interest.
  • Interest accrues daily, so repaying weekly will save you more interest than repaying fortnightly, but not by much.
  • Synchronising your mortgage repayment frequency with how often you get paid is a great way to help you to budget.
  • You can always make extra repayments, or save on interest by parking spare cash in an offset account.

Mortgage repayment frequency restrictions

So long as the total amount repaid over the month isn’t less than the minimum monthly requirement, most lenders are generally willing to let borrowers make fortnightly or weekly principal and interest (P&I) repayments. However, for interest-only (IO) loans, lenders don’t normally allow weekly or fortnightly repayments – usually only monthly repayments are required. Lenders can also be less flexible with fixed-rate loans.