Basic loan repayments calculator
About the basic loan repayments calculator
This calculator lets you enter a home loan amount, interest rate and loan term, to find out your regular repayment (monthly, fortnightly or weekly). It also lets you see exactly how much interest you'll be paying over the life of the loan. It's a great basic mortgage calculator that can help you get a better idea of how much you will need to pay to start making a dent in your mortgage. You may also like to take a look at the extra repayments calculator or the lump sum payment calculator.
Use the sliders to change the number of years, interest rates and loan term. You can also adjust the repayment schedule to monthly, fortnightly or weekly. The periodic payment amount and total cost of the loan is then displayed and represented in the graph on the right.
As you'll see, adjusting the interest rate by 1% or the loan repayment period by one year can have a very large impact on the total cost of your home loan.