Last Updated: 18th September, 2023

You can use this calculator to work out your home loan repayments with different loan sizes, interest rates, loan terms and repayment options.

How Do I Calculate My Home Loan Repayments Using The Calculator?

Simply enter your loan amount, loan term, interest rate and loan repayment type and you will see the results. You can toggle between monthly, fortnightly and weekly repayment frequency in the results section.

What Interest Rate Should I Use?

You can use the Bank Standard Variable Rate (BSVR) of a major bank, less a 0.7 percentage point discount. As for other lenders, check their interest rates online or enquire with them and enter the interest rate accordingly. The discount varies from lender to lender. But you can assume 0.7 percentage points if you have not secured a lender or a mortgage broker to confirm anything yet. Keep in mind that our mortgage brokers may be able to get you a bigger discount on any standard interest rate. Suppose interest rates were to increase; to determine your home loan repayments, put in an interest rate about 3 percentage points higher than the current rate. This would help you figure out if you would be able to afford the loan if rates went up.

What Loan Term Should I Use?

Generally, most mortgages in Australia are for a 30-year term. However, you can choose any term you like, even up to 40 years, which is the maximum term offered in Australia. You must still be aware that the shorter your term, the higher your repayments. And, the faster you pay off the loan, the less interest you will ultimately pay.

FAQs: Home Loan Repayment Calculator

We’re Here To Help

The home loan repayment calculator is a helpful tool for estimating your mortgage payments, but it’s important to keep in mind that the results are based on certain assumptions and may not reflect the exact terms of your loan. That’s where the expertise of a mortgage broker comes in. At Home Loan Experts, we can help you get the right interest rate for your situation from the wide range of lenders on our panel. We will do all the legwork of finding and applying for a home loan. Call us on 1300 889 743 or enquire online for free today.
  • The home loan repayment calculator is a helpful tool for estimating mortgage payments.
  • Keep in mind that the results are based on certain assumptions, so they may not reflect the exact terms of your loan.
Don’t settle for just an estimate – let us help you find the right home loan.


The results from this calculator should be used as a guide only.They do not constitute a loan approval, quote or an offer to lend. The calculator is not to be relied on for making a final decision on a financial product.

Code errors or delays with updating the calculator may cause your result to be inaccurate.

You should obtain a formal approval from a lender before making any offer on a property or any financial decision that relies on a new mortgage.