True wellbeing begins at home.
Estimate your loan repayments instantly. Adjust the loan amount, rate and term to see how each affects your repayments.
| Year | Principal paid | Interest paid | Balance |
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Your repayment is calculated using the loan amount, interest rate and term. Australian lenders calculate interest daily on your outstanding balance and charge it monthly. Each repayment covers the month's interest plus a portion of the principal - in early years most goes to interest, shifting toward principal over time.
Yes. Fortnightly repayments result in 26 half-payments per year - equivalent to 13 monthly payments instead of 12. This extra payment reduces your loan term by 3 to 4 years on a 30-year loan and saves significant interest.
An offset account reduces the balance that interest is calculated on, dollar for dollar. $50,000 in an offset on a $500,000 loan means interest is calculated on $450,000 - saving tens of thousands over the loan term without making extra repayments.
On a variable rate loan your lender adjusts your rate - usually within days of an RBA decision - and your minimum repayment is recalculated. A 0.25% increase on a $600,000 loan adds approximately $90 per month. Use the RBA simulator above to model your specific loan.
P&I repayments reduce your loan balance over time and are standard for owner-occupiers. Interest only keeps repayments lower for a period (typically 1 to 5 years) but the loan balance does not reduce - commonly used for investment loans for tax and cash flow reasons.
Your home loan repayment is determined by three things: how much you borrow, the interest rate, and how long you take to pay it back. Even small changes in rate or term can shift your monthly commitment by hundreds of dollars - which is why comparing lenders matters more than most people realise.
This calculator gives you a starting point, but your actual repayment depends on the specific product you choose. Features like offset accounts, redraw facilities, and the ability to make extra repayments without penalty all affect the true cost of your loan over time. A loan with a slightly higher rate but a full offset account can end up costing significantly less than a basic low-rate product.
At Lendology, we compare repayment structures across 60+ lenders - not just the headline rate, but the total cost including fees, features, and flexibility. If you're buying your first home, refinancing an existing loan, or structuring an investment property, the right repayment structure makes a measurable difference to your financial position over the life of the loan.
Start with the property price you're considering and subtract your deposit to get the loan amount. Use the current average variable rate as a starting point (check the RBA simulator to see how rate changes would affect you). Try toggling between principal and interest and interest-only to see the difference - and experiment with offset balances and extra repayments to see how much you could save over the full loan term.
For a precise figure based on your actual income, expenses, and the best rate available to you, book a chat with Jason or Steve. We'll show you exactly what you can borrow and what it will cost - across multiple lenders, side by side.