Australia mortgage calculator for home loans
Enter the price, deposit, rate and loan term, and this Australia mortgage calculator shows your monthly home loan repayment and the total interest.
Last updated Updated for 2026
Estimates only. This is not tax, legal or financial advice. Stamp duty and lenders mortgage insurance are not included.
How to use the Australia mortgage calculator
- Enter the property price.
- Enter your deposit as a percentage of the price, for example 20.
- Enter the interest rate and the loan term in years.
- Press Calculate payment to see the monthly repayment, the loan amount and the total interest.
How the Australia mortgage calculator works
Most Australian home loans are principal and interest loans with a variable rate, where each repayment covers that month's interest and reduces the balance. The calculator finds the fixed monthly repayment that would clear the loan over the term if the rate stayed the same.
Because variable rates move with the cash rate, treat the result as today's repayment and test higher rates too. Stamp duty, lenders mortgage insurance and other upfront costs are not included.
Formula
Loan = price × (1 − deposit % ÷ 100). Monthly rate m = annual rate ÷ 1200 and n = years × 12.
Monthly repayment = L × m × (1 + m)^n ÷ ((1 + m)^n − 1). Total interest = repayment × n − L.
Example
An $800,000 home with a 20% deposit needs a $640,000 loan. At 6% over 30 years, the monthly repayment is about $3,837.12, and total interest over the life of the loan is about $741,364.
If the rate rises to 6.5%, the repayment climbs to about $4,045.24 a month, about $208 more, and total interest grows to about $816,285.
Tips and common mistakes
Under a 20% deposit
Lenders usually charge lenders mortgage insurance when you borrow more than 80% of the property value. It isn't included in this result.
Fortnightly repayments help
Paying half the monthly amount every fortnight adds up to 13 monthly payments a year, which can take years off the loan.
Use an offset account
Savings in an offset account reduce the balance that interest is charged on, which lowers total interest without locking your money away.
Know your take-home pay
Estimate your tax and Medicare levy to see what you can comfortably repay each month.
Car and personal loans
The EMI calculator shows monthly repayments for other fixed-rate loans in the same way.
Frequently asked questions
Does it work for interest-only loans?
No. It is for principal and interest loans. Interest-only repayments are lower at first but don't reduce what you owe.
Is stamp duty or LMI included?
No. Stamp duty varies by state and buyer, and lenders mortgage insurance depends on your deposit. Add them to your budget separately.
Fixed or variable: which should I enter?
Enter the rate you're quoted. For a variable loan, also try a higher rate, because the repayment changes when the rate does.
Can I see fortnightly repayments?
Divide the monthly repayment by two for a fortnightly amount. Paid that way, the loan is cleared sooner than the term shown.