Mortgage Repayment Calculator Australia
Work out your monthly home loan repayment and total interest paid over the life of any Australian mortgage. Enter the loan amount, interest rate and term to see the numbers instantly.
Loan details
Enter your loan amount, interest rate and loan term to see your monthly repayments.
How home loan repayments work in Australia
Australian home loans are almost always amortising — each repayment is split between interest (paid to the lender) and principal (which reduces the outstanding loan balance). Early in the term, most of your repayment goes to interest; by the back half, most of it pays down principal.
Monthly Repayment = P × r × (1+r)^n
÷ ((1+r)^n − 1)
P = loan principal
r = monthly interest rate (annual ÷ 12 ÷ 100)
n = total months (years × 12)Mortgage calculator 500k Australia — quick reference
For a $500,000 loan at 6.0% p.a. over 30 years, the monthly repayment lands at approximately $2,998. Over the life of the loan, you'll pay roughly $579,000 in interest on top of the original principal. Cutting the term to 25 years lifts the monthly repayment to about $3,221 but saves around $113,000 in lifetime interest.
What this home loan calculator monthly repayments tool doesn't include
This calculator gives you the pure principal-and-interest figure. It doesn't include stamp duty, Lenders Mortgage Insurance, ongoing loan service fees, redraw/offset costs, or rate changes during the term. For the full investment picture, run the numbers through our property investment calculator.
Frequently asked questions
How does this mortgage repayment calculator Australia work?
We use the standard amortising loan formula. You enter the loan amount, annual interest rate, and loan term in years. The calculator returns your monthly repayment, total interest paid over the life of the loan, and total amount repaid.
What is the monthly repayment on a 500k mortgage in Australia?
On a $500,000 home loan at 6.0% over 30 years (principal & interest), the monthly repayment is approximately $2,998. Total interest over the full term comes to around $579,000. Use the calculator above with your actual rate to get a precise number.
Does the calculator include extra fees?
No — this loan repayment calculator Australia models the principal and interest only. Lenders Mortgage Insurance (LMI), ongoing service fees, offset facility fees and government charges are not included.
What's the difference between principal and interest and interest-only?
Principal & interest (P&I) repayments include both the loan principal and the interest each month — over time the principal portion grows. Interest-only repayments cover just the interest, leaving the loan balance unchanged. This calculator models P&I only.
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