Calculators
Mortgage Repayment Calculator
See weekly, fortnightly or monthly repayments and the total interest over the loan.
Repayment per month
$3,812
Principal and interest
- Total interest
- $732,489
- Time to repay
- 30 yrs
- Total repaid
- $1,372,489
Assumes the rate stays the same for the whole term. Offset and extra-repayment savings are calculated monthly.
The interest-only total covers the full term entered. Most interest-only periods are 1–5 years, after which repayments rise.
Understand the numbers
Offset vs Redraw
An offset account is a transaction account linked to your home loan, where the balance reduces the amount you pay interest on. A redraw facility lets you take back extra repayments you have made into the loan. Both can save the same amount of interest, but an offset keeps your money separate and easier to access, while redraw money is part of the loan. The difference matters most if you might later turn your home into an investment property.
6 min readFundamentalsFixed vs Variable Rates
A fixed rate locks your interest rate for a set period, usually one to five years, giving you certainty over repayments. A variable rate moves with the market and the lender's decisions, but usually offers more flexibility, such as unlimited extra repayments and an offset account. Neither is always better. Many borrowers split their loan to get some certainty and some flexibility. The right choice depends on your budget, plans and appetite for risk.
7 min readProperty InvestingInterest-Only Loans Explained
An interest-only loan lets you pay only the interest for a set period, usually one to five years, so repayments are lower and the loan balance doesn't go down. When the interest-only period ends, the loan switches to principal and interest over the remaining term, and repayments rise, sometimes sharply. Interest-only can help investors manage cash flow or prioritise paying down non-deductible home debt, but it usually costs more interest overall and often comes with a higher rate.
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