How is the repayment amount calculated?

The calculator uses the standard amortizing loan formula. The annual interest rate is converted into a rate per repayment period based on the frequency chosen, and the loan amount is divided into equal repayments over the total number of periods so the balance reaches zero at the end of the term.

Why is the fortnightly repayment not exactly half of the monthly one?

Fortnightly repayments are calculated on 26 periods a year rather than 12 doubled, and the periodic interest rate is also recalculated for a 14-day cycle. The result is usually close to half the monthly amount but not identical, and paying fortnightly typically saves interest since more repayments hit the balance each year.

Does this include lenders mortgage insurance (LMI) or fees?

No. This calculator estimates principal and interest repayments only. It does not include LMI, application fees, ongoing account fees, offset account effects, or government charges, which vary by lender and loan product.

Is this a fixed or variable rate calculator?

It works for either. Enter the rate that applies right now. For a variable rate loan, repayments will change if your lender changes the rate, so re-run the calculation with the new rate to see the updated repayment.

What loan term should I use?

Most Australian home loans run 25 to 30 years. Enter the remaining term in years for an existing loan, or the proposed term for a new loan application.

Australia Mortgage Calculator

Enter your loan amount, interest rate, loan term, and repayment frequency to get your Australian mortgage repayment, total interest, and total repaid.

Loan Details

Loan Amount (AUD)

Interest Rate (% per year)

Loan Term (years)

Repayment Frequency

Enter your loan details to see the repayment breakdown.

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Summary

Enter your loan amount, interest rate, loan term, and repayment frequency to get your Australian mortgage repayment, total interest, and total repaid.

How it works

Enter the loan amount in Australian dollars.
Enter the annual interest rate as a percentage.
Enter the loan term in years.
Choose a repayment frequency: monthly, fortnightly, or weekly.
Read the repayment amount, total interest, and total repaid in the results panel.

Use cases

Comparing monthly versus fortnightly repayments on an Australian home loan.
Estimating total interest paid over the life of a mortgage.
Checking how a higher interest rate changes the repayment amount.
Working out repayments before applying for a home loan.
Comparing loan terms, such as 25 years versus 30 years.

Frequently Asked Questions

Last updated: 2026-09-19 · Reviewed by Nham Vu

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