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| Year | Opening Balance | Repayments | Interest Paid | Principal Paid | Closing Balance |
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This calculator estimates your regular loan repayment based on the loan amount, interest rate, and loan term you enter.
The calculation accounts for your selected payment frequency and any extra repayments you wish to make. Extra repayments are converted to an annual amount and then spread across your chosen repayment frequency, so a monthly extra works out correctly on weekly or fortnightly repayments.
Making extra repayments can save you thousands in interest and reduce your loan term significantly. Even small extra payments add up over time.
Important Disclaimer & Assumptions
Assumptions: Calculations assume a standard principal & interest loan with a fixed interest rate for the entire term. Repayments are calculated using standard amortisation formulas. Extra repayments are normalised to an annual amount and applied evenly across your chosen repayment frequency. Actual repayments may vary due to rate changes, fees, and lender policies.
General Disclaimer: This calculator is provided by Mortgage & Finance Advisory (Credit Representative 575841 of Connective Credit Services Pty Ltd, Australian Credit Licence 389328) for illustrative and educational purposes only. Results are estimates based on the information you provide and the assumptions listed above. They do not constitute financial advice, a loan offer, or a guarantee of any outcome.
Actual loan terms, interest rates, fees, government charges, and eligibility criteria will vary between lenders and depend on your individual circumstances. Interest rates used are for comparison purposes only and may not reflect current market rates.
We recommend seeking independent financial, legal, and tax advice before making any financial decisions. For personalised advice tailored to your situation, please book a free strategy call with our team.
© 2026 Mortgage & Finance Advisory. All rights reserved. ABN: 90 732 203 952 | Credit Representative 575841 of Connective Credit Services Pty Ltd, Australian Credit Licence 389328
Home loan repayments are calculated using the loan amount, interest rate, and loan term. For principal & interest loans, each payment covers both the interest charged and reduces the loan balance. The formula accounts for compound interest over the loan period.
With principal & interest (P&I), each repayment reduces your loan balance plus covers interest. With interest-only, you only pay the interest charges for a set period (usually 1-5 years), meaning your loan balance doesn't decrease during that time.
Most Australian lenders require a minimum 5-20% deposit. With less than 20% deposit, you'll typically need to pay Lenders Mortgage Insurance (LMI). Some government schemes like the First Home Guarantee allow deposits as low as 5% without LMI.
