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Home Loan Calculator
Find home loans from a wide range of Australian lenders that suit your needs, whether you're investing, refinancing or looking to buy your first home. Compare interest rates, mortgage repayments, fees and more.
$1,182
based on $300,000 loan amount for 25 years at 1.99%
Advertised Rate 1.99% p.a Intro 12 months | Comparison Rate* 2.47% p.a | Company  | Repayment $2,686 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site |  The 12-month interest rate discount could give you more breathing room in your household budget, or make a head start on paying off your home sooner. |  Winner of Best refinance home loan, Best variable, RateCity Gold Awards 2021 More details | ||
Advertised Rate 1.75% p.a Fixed - 3 years | Comparison Rate* 2.22% p.a | Company  | Repayment $2,471 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | Fix the interest rate on your owner occupier home loan for up to three years and pay no ongoing fees. More details | |||
Advertised Rate 2.24% p.a Variable | Comparison Rate* 2.26% p.a | Company  | Repayment $2,614 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | Pay no ongoing fees and enjoy access to extra repayments and a redraw facility for your owner-occupied home loan. More details | |||
Advertised Rate 1.74% p.a Fixed - 2 years | Comparison Rate* 2.23% p.a | Company  | Repayment $2,468 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | Homeowners may lock in a competitive interest rate for two years and enjoy access to features like a 100% offset account. More details | |||
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Frequently asked questions
How does a mortgage calculator work?
A mortgage calculator is an extremely helpful tool when planning to take out a home loan and working out the costs. Although each mortgage calculator you come across may be slightly different, most will help you estimate how much your repayments will be. The calculator will often also show you the difference in repayments if you repay weekly, monthly or fortnightly.
To calculate these figures, you’ll be asked to enter a few details. These include the amount you plan to borrow, whether you’re an owner-occupier or an investor, the proposed interest rate and the home loan term. It will also often show you the total interest you’ll be charged and the total amount you’ll repay over the life of the loan.
Understanding how the mortgage calculator works, helps you to use it to see how different loan amounts, interest rates and terms affect your repayments. This can then help you choose a home loan that you can repay comfortably and save on interest costs. The mortgage calculator lets you compare the benefits and costs of home loans from different lenders to help you make a more informed choice. Use a mortgage calculator to help identify which home loan is most suitable for your requirements and financial situation.
How can I calculate interest on my home loan?
You can calculate the total interest you will pay over the life of your loan by using a mortgage calculator. The calculator will estimate your repayments based on the amount you want to borrow, the interest rate, the length of your loan, whether you are an owner-occupier or an investor and whether you plan to pay ‘principal and interest’ or ‘interest-only’.
If you are buying a new home, the calculator will also help you work out how much you’ll need to pay in stamp duty and other related costs.
What is an interest-only loan? How do I work out interest-only loan repayments?
An ‘interest-only’ loan is a loan where the borrower is only required to pay back the interest on the loan. Typically, banks will only let lenders do this for a fixed period of time – often five years – however some lenders will be happy to extend this.
Interest-only loans are popular with investors who aren’t keen on putting a lot of capital into their investment property. It is also a handy feature for people who need to reduce their mortgage repayments for a short period of time while they are travelling overseas, or taking time off to look after a new family member, for example.
While moving on to interest-only will make your monthly repayments cheaper, ultimately, you will end up paying your bank thousands of dollars extra in interest to make up for the time where you weren’t paying off the principal.
How much money can I borrow for a home loan?
Tip: You can use RateCity how much can I borrow calculator to get a quick answer.
How much money you can borrow for a home loan will depend on a number of factors including your employment status, your income (and your partner’s income if you are taking out a joint loan), the size of your deposit, your living expenses and any other debt you might hold, including credit cards.
A good place to start is to work out how much you can afford to make in monthly repayments, factoring in a buffer of at least 2 – 3 per cent to allow for interest rate rises along the way. You’ll also need to factor in additional costs that come with purchasing a property such as stamp duty, legal fees, building inspections, strata or council fees.
If you are planning on renting the property, you can factor in the expected rental income to help offset the mortgage, but again it’s prudent to add a significant buffer to allow for rental management fees, maintenance costs and short periods of no rental income when tenants move out. It’s also wise to factor in changes in personal circumstances – the typical home loan lasts for around 30 years and a lot can happen between now and then.