FREE TOOLS / Home & lending
Mortgage repayments
What this mortgage really costs. The repayment, the total interest, and what an extra $100 a fortnight takes off the end.
Your estimate
Scheduled monthly repayment
$3,597.30
Plus $0.00 extra each month. Estimated repayment time: 30 years.
- Total interest
- $695,029.13
- Total repayments
- $1,295,029.13
- Balance remaining
- $0.00
View all chart values
- Today
- $600,000.00
- Year 1
- $592,632.00
- Year 2
- $584,809.00
- Year 3
- $576,504.00
- Year 4
- $567,687.00
- Year 5
- $558,326.00
- Year 6
- $548,388.00
- Year 7
- $537,836.00
- Year 8
- $526,634.00
- Year 9
- $514,741.00
- Year 10
- $502,114.00
- Year 11
- $488,709.00
- Year 12
- $474,477.00
- Year 13
- $459,367.00
- Year 14
- $443,325.00
- Year 15
- $426,293.00
- Year 16
- $408,211.00
- Year 17
- $389,014.00
- Year 18
- $368,633.00
- Year 19
- $346,994.00
- Year 20
- $324,022.00
- Year 21
- $299,632.00
- Year 22
- $273,738.00
- Year 23
- $246,246.00
- Year 24
- $217,060.00
- Year 25
- $186,073.00
- Year 26
- $153,174.00
- Year 27
- $118,247.00
- Year 28
- $81,165.00
- Year 29
- $41,797.00
- Year 30
- $0.00
What this estimate assumes
- Principal and interest are paid monthly, at month end. The nominal annual rate is divided by 12 and held constant.
- Extra repayments reduce principal without lowering the scheduled payment. No fees, rate changes, interest-only periods or early-repayment charges are included.
- This is a repayment estimate, not a lending offer or an assessment of affordability.
For information only, not financial advice. These simplified estimates do not consider your full circumstances. Assumed rates are not forecasts or guaranteed returns. Talk to a financial adviser before making financial decisions.
HOW TO READ THIS TOOL
The repayment is the start. The interest is the story.
See the real cost
The monthly repayment is the number a bank leads with. Total interest over the term is the number that matters, and it sits right beside it.
Test an extra payment
Add an extra monthly amount and watch the repayment time and total interest move. The scheduled payment stays the same; the balance falls faster.
Read the balance over time
The chart shows what you still owe at the end of each year. Principal falls slowly in the early years and quickly at the end.
How the model works
Principal and interest are repaid monthly, at the end of each month. The annual rate you enter is divided by twelve and held constant for the whole term. A fixed-rate offer usually expires well before the term does, so treat the rate as an assumption, not a promise.
What it leaves out
Fees, rate changes, interest-only periods, offset accounts and early-repayment charges are not included. The model does not test whether a lender would approve the loan or whether the repayment fits your budget. It is a repayment estimate, not an offer or an affordability assessment.
The assumptions, in full
- Principal and interest are paid monthly, at month end. The nominal annual rate is divided by 12 and held constant.
- Extra repayments reduce principal without lowering the scheduled payment. No fees, rate changes, interest-only periods or early-repayment charges are included.
- This is a repayment estimate, not a lending offer or an assessment of affordability.
A FEW GOOD QUESTIONS
Before you
trust the number.
An estimate is only as good as the question behind it. These are the ones people ask most about this tool.
All ten toolsWhy does an extra repayment shorten the term instead of lowering the payment?
Because the model keeps the scheduled payment fixed and applies anything extra straight to principal, which is how most lenders treat voluntary extra payments. Less principal means less interest each month, so the loan ends sooner. Ask your lender how they treat extra payments and whether your fixed rate allows them without a charge.
Is this what my bank will charge me?
No. Banks calculate interest daily, charge fees and reprice at the end of each fixed term. The figures here are a close illustration under a constant rate, not a quote. Use them to compare choices, then confirm the real numbers with the lender or your adviser.
What rate should I enter?
The rate you have been offered, or a published rate for the term you are considering. If you arrived from the rates page, the linked rate is a starting assumption and is editable. Try a higher rate too. A repayment you can only afford at today’s rate is worth knowing about before you commit.
Can it tell me how much I can borrow?
No. Borrowing capacity depends on income, expenses, existing commitments and the lender’s own test rate. This tool shows what a given loan costs. An adviser or lender assesses whether it is available to you.
YOUR MONEY. YOUR CALL.
Stop guessing.
Start knowing.
Use the tools right now, no sign-up. When you want a real adviser, tell us what’s on your mind and we’ll match you properly.
Talk to an adviser