Mortgage calculator
Work out your mortgage repayments
See what your repayments could be weekly, fortnightly or monthly, the interest you'd pay over the life of the loan, and how much sooner extra repayments could have you mortgage free.
Your repayments
Monthly repayment
$2,684.11
- Total interest
- $466,279
- Total repaid
- $966,279
- Paid off in
- 30 years
Paying each month instead:
- Interest saved
- Time saved
- Paid off in
- Regular repayments
- With extra repayments
Year-by-year breakdown
| Year | Repaid | Interest | Principal | Balance | Balance without extra |
|---|---|---|---|---|---|
| 1 | $32,209 | $24,832 | $7,377 | $492,623 | |
| 2 | $32,209 | $24,455 | $7,754 | $484,869 | |
| 3 | $32,209 | $24,058 | $8,151 | $476,718 | |
| 4 | $32,209 | $23,641 | $8,568 | $468,150 | |
| 5 | $32,209 | $23,203 | $9,006 | $459,144 | |
| 6 | $32,209 | $22,742 | $9,467 | $449,677 | |
| 7 | $32,209 | $22,258 | $9,951 | $439,725 | |
| 8 | $32,209 | $21,749 | $10,461 | $429,264 | |
| 9 | $32,209 | $21,214 | $10,996 | $418,269 | |
| 10 | $32,209 | $20,651 | $11,558 | $406,710 | |
| 11 | $32,209 | $20,060 | $12,150 | $394,561 | |
| 12 | $32,209 | $19,438 | $12,771 | $381,789 | |
| 13 | $32,209 | $18,785 | $13,425 | $368,365 | |
| 14 | $32,209 | $18,098 | $14,112 | $354,253 | |
| 15 | $32,209 | $17,376 | $14,834 | $339,420 | |
| 16 | $32,209 | $16,617 | $15,592 | $323,827 | |
| 17 | $32,209 | $15,819 | $16,390 | $307,437 | |
| 18 | $32,209 | $14,981 | $17,229 | $290,208 | |
| 19 | $32,209 | $14,099 | $18,110 | $272,098 | |
| 20 | $32,209 | $13,173 | $19,037 | $253,061 | |
| 21 | $32,209 | $12,199 | $20,011 | $233,051 | |
| 22 | $32,209 | $11,175 | $21,034 | $212,016 | |
| 23 | $32,209 | $10,099 | $22,111 | $189,906 | |
| 24 | $32,209 | $8,967 | $23,242 | $166,664 | |
| 25 | $32,209 | $7,778 | $24,431 | $142,233 | |
| 26 | $32,209 | $6,528 | $25,681 | $116,552 | |
| 27 | $32,209 | $5,215 | $26,995 | $89,557 | |
| 28 | $32,209 | $3,833 | $28,376 | $61,181 | |
| 29 | $32,209 | $2,382 | $29,828 | $31,354 | |
| 30 | $32,209 | $856 | $31,354 | $0 |
How this calculator works
- Interest is charged each repayment period at the annual rate divided by 12, 26 or 52, so a year is taken as 52 weeks or 26 fortnights.
- The rate stays the same for the whole term. In practice it changes when you refix or when floating rates move.
- Repayments are principal and interest, paid at the end of each period and not rounded to the cent. Fees aren't included.
- Extra repayments are added to every regular repayment from the start, so the last repayment may be smaller.
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by First Rate Mortgages. It does not take into account your personal or financial circumstances.
Want a figure you can rely on?
Talk to one of our advisers about what you can borrow and the rates lenders will offer you.