Mortgage Repayment Calculator
Work out your mortgage repayment from the loan amount, interest rate and term.
How it works
The calculator applies the standard amortised-loan formula: the monthly payment (M) is derived from the loan principal (P), the monthly interest rate (r = annual rate ÷ 12), and the number of monthly payments (n = term in years × 12). It assumes principal & interest with a fixed rate. Fortnightly and weekly figures are scaled so the annual total is the same.
If you plan to make extra repayments, the Extra Repayments calculator shows how much time and interest you could save.
M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1)
Worked example
A $500,000 loan at 6% p.a. over 30 years:
- Monthly rate
- 6% ÷ 12 = 0.5%
- Number of payments
- 30 × 12 = 360
- Monthly repayment
- ≈ $2,998
- Total interest
- ≈ $579,000 over the life of the loan
Frequently asked questions
It's a close estimate based on standard amortised-loan math (principal & interest, fixed rate). Actual repayments can differ slightly depending on how your lender calculates interest, fees, offset accounts, or if you're on an interest-only or variable-rate loan.