Australian Mortgage Calculator

Last updated: June 2025 | Based on current RBA cash rate data

Whether you are buying your first home, upgrading to a bigger property, or investing in real estate, understanding your mortgage repayments is essential for smart financial planning. Our free mortgage calculator helps you estimate your weekly, fortnightly, or monthly home loan repayments based on the property price, your deposit, loan term, and current interest rates. Simply adjust the sliders to see how different scenarios affect what you will pay, and connect with a licensed broker to find the best deal for your situation.

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Results are estimates for informational purposes only and do not constitute financial advice. Please consult a licensed financial adviser before making any financial decisions.

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How It Works

1

Enter Your Details

Input your property price, deposit, loan term, and interest rate.

2

See Your Repayments

Instantly view your estimated weekly, fortnightly, or monthly repayments.

3

Talk to a Broker

Connect with a licensed broker to find a better rate and get personalised advice.

Frequently Asked Questions

Most lenders will allow you to borrow up to 80% of the property value without Lenders Mortgage Insurance (LMI). Your actual borrowing capacity depends on your income, expenses, existing debts, and credit history. As a general rule, you can borrow around 5-6 times your annual household income.
As of 2025, competitive home loan rates in Australia range from about 5.5% to 7% depending on the loan type and lender. Rates below 6% are generally considered good. Always compare rates from multiple lenders and consider the comparison rate which includes fees.
LVR (Loan-to-Value Ratio) is the percentage of the property value that you are borrowing. For example, if you buy a $500,000 property with a $100,000 deposit, your LVR is 80%. An LVR above 80% typically requires you to pay Lenders Mortgage Insurance (LMI), which can add thousands to your loan.
The minimum deposit is typically 5% of the property price, but a 20% deposit is recommended to avoid paying Lenders Mortgage Insurance (LMI). For a $600,000 property, that means $30,000 minimum or $120,000 to avoid LMI. First home buyers may qualify for government schemes with lower deposits.
With a principal and interest (P&I) loan, your repayments cover both the loan amount and interest, so your debt decreases over time. With interest-only, you only pay interest for a set period (usually 1-5 years), meaning lower initial repayments but you do not reduce the loan balance during that time.
Paying fortnightly instead of monthly results in 26 payments per year (equivalent to 13 monthly payments), which can reduce your loan term and total interest paid. On a $500,000 loan at 6%, fortnightly repayments could save you around $30,000 in interest over 30 years.
This calculator provides an estimate of repayments only. It does not include stamp duty, legal fees, building and pest inspections, LMI, loan application fees, ongoing account fees, or property insurance. Budget an additional 3-5% of the property price for these costs.
This depends on your financial situation and risk tolerance. Fixed rates offer certainty and protection if rates rise, but you may miss out if rates fall. Variable rates offer flexibility and often include features like offset accounts and extra repayments. Many borrowers split their loan between fixed and variable.

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