How long to repay your mortgage calculator

About the mortgage term / how long to repay calculator

This is a simple mortgage calculator that calculates how long it will take you to pay off your home loan. If you are trying to choose between two different home loans or personal loans you might like to use the complete loan comparison calculator for a more detailed analysis.

Instructions

In the top box enter your loan amount interest rate, repayment amount and select the frequency of payment from the drop down menu. The results – including the total term of the loan and the interest payable - will be displayed in the bottom box and represented in the graph on the right. Play around with different amounts, interest rates and you’ll see how much any of these factors can effect the loan term and interest payable.

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Disclaimer: Calculator is not intended to be relied on for the purposes of making a decision in relation to a financial product. Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. Advice should be obtained from a financial services licensee before making financial decisions. Calculator does not assume changes in the cost of living over time. Default assumptions: For the purpose of this calculator, all months are assumed to be of equal length. One year is assumed to comprise 52 weeks and therefore 364 days (as opposed to the actual 365 days or 366 days).