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Mortgage Repayment Calculator
⭐ POPULARMONTHLY · FORTNIGHTLY · WEEKLY · P&I OR IO
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Total Repayments
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Total Interest
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Loan Amount
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Interest Saved (extra repayments)
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⚠️ This is an estimate only. Rates change daily. Consult your lender or mortgage broker for exact figures.
Frequently Asked Questions
What is a good mortgage interest rate in Australia 2024?
Currently, variable home loan rates in Australia range from around 5.5% to 7.5%. The average is approximately 6.2-6.5% for owner-occupier P&I loans. Compare rates across lenders and consider using a mortgage broker.
Should I choose fortnightly or monthly repayments?
Fortnightly repayments (26 per year) result in effectively one extra monthly payment per year. Over a 30-year loan this can save tens of thousands in interest and shave years off your loan term.
What's the difference between P&I and interest-only?
Principal & Interest (P&I) repayments reduce your loan balance each period. Interest-only (IO) repayments only cover the interest — your balance doesn't reduce. IO is typically used by investors and is limited to 5 years by most lenders.
⚠️ General information only. Not financial, tax, or professional advice. Always consult a qualified professional. Terms & Conditions