Australian Home Loan Repayment Calculator

Input field guide

• Property Price—The price you expect to pay for the property. This is used to work out your deposit, loan amount, LVR and buying costs.
• Deposit—The amount you will pay upfront from your own money. You can enter it as a dollar amount or as a percentage of the property price.
• Loan Term—How long you plan to take to repay the home loan. A longer term usually lowers monthly repayments but increases total interest.
• Interest Rate—The annual home loan interest rate used to calculate repayments. Enter the rate as a percentage, such as 6.25.
• Single Rate—Use this if the same interest rate applies for the whole loan term.
• Two Rate Periods—Use this if your loan has two different rate periods, such as a fixed rate for the first few years and a variable rate after that.
• Three Rate Periods—Use this if your loan has three separate rate stages over the life of the loan.
• Month From / To—The months that each interest rate applies to. For example, months 1 to 24 could represent the first two years of the loan.
• Repayment Type—Choose how the loan is repaid. Principal and interest is the common option; principal reduction starts higher and falls over time; interest only keeps payments lower until the final balloon payment.
• Council Rates—An estimate of local council charges for the property. You can enter an annual dollar amount or a yearly percentage of the property price.
• Home and Contents Insurance—Your estimated monthly cost to insure the home and belongings. This is added to your housing cost estimate.
• Strata / Body Corporate Fees—Ongoing fees for apartments, townhouses or managed complexes. Enter this if the property has strata or body corporate costs.
• Repayment Pause Period—A period where regular loan repayments are paused. This can show the effect of hardship, parental leave or a temporary repayment break.
• Capitalise interest during the repayment pause—If selected, unpaid interest during the pause is added to the loan balance instead of being paid monthly.
• Stamp duty / Transfer duty—A government charge paid when buying property. The amount varies by state or territory, property price and buyer situation.
• Conveyancing, Inspection—Estimated legal, conveyancing, building and pest inspection costs involved in checking and completing the purchase.
• Lenders Mortgage Insurance (LMI)—Insurance that may apply when your deposit is less than 20%. It protects the lender, not the borrower.
• Application / Valuation Fee—Possible lender fees for assessing your loan application or valuing the property.
• Mortgage Registration / Land Transfer Fee—Government or land titles fees for registering the mortgage and transferring ownership records.
• Other Buying Costs—Any extra upfront costs you want to include, such as settlement adjustments, moving costs or additional lender charges.
• Add Upfront Costs to the Loan—Select this if you want the buying costs added to the loan instead of paid separately upfront. This increases the loan balance and interest paid.
• First Repayment Date—The date your repayment schedule starts. This affects the dates shown in the monthly and annual breakdowns.
• Net Monthly Income—Your after-tax monthly income. This is used to compare repayments and property costs against your income.
• Monthly Extra Repayment—An extra amount you plan to pay every month on top of the required repayment. This can reduce interest and shorten the loan term.
• Annual Extra Repayment—A once-a-year extra payment, such as from a bonus or savings. The calculator applies it from the month and year you choose.
• One-off Extra Repayment—A single extra payment made in a specific month and year, such as using savings, an inheritance or a work bonus.
• Add Another—Lets you enter more one-off extra repayments at different dates.
• Deposit Available—The cash you already have available to put towards the purchase in the borrowing power calculator.
• Rent You Will No Longer Pay Each Month—The rent payment that may become available for mortgage repayments once you move into your own home.
• Extra Monthly Amount Available for Housing—Any additional monthly money you could comfortably put towards housing costs.
• Estimated Monthly Property Costs—Expected monthly non-loan property costs, such as rates, insurance, strata or maintenance. This reduces what is available for repayments.
• Home Loan Interest Rate—The interest rate used in the borrowing power estimate. A higher rate lowers the amount you may be able to borrow.
• Borrowing Power Loan Term—The loan term used to estimate how much you may be able to borrow based on your monthly budget.