Estimate what a home loan might cost you per repayment. Educational estimate only - this is not a quote and not credit assistance.
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This calculator estimates what a home loan would cost per repayment at the loan amount, interest rate and term you enter. It is a repayment illustration only — it is not a quote, not an offer of credit, and not an assessment of your borrowing capacity or eligibility for any loan product. The interest rate is entered by you and is illustrative; it does not reflect a rate available to you from any lender.
For a principal and interest (P&I) loan, each repayment covers the interest accrued on the outstanding balance for that period, plus a portion of the principal. The total payment stays constant across the term, but the split between interest and principal shifts over time — early repayments are predominantly interest, and the principal share grows as the balance reduces. For an interest-only loan, repayments cover only the accrued interest. The principal does not reduce, and the full loan amount remains owing at the end of the interest-only period.
Repayment frequency — monthly, fortnightly or weekly — affects the total interest paid over the life of a P&I loan because more frequent payments reduce the outstanding balance faster, assuming your lender calculates interest daily. The calculator applies standard amortisation to each frequency. It does not model offset accounts, redraw facilities, lender fees, rate changes or early repayment. For a broader guide to the property buying process, see AgentBridge Resources.
For a principal and interest loan, repayments use standard amortisation: each payment covers the interest accrued on the outstanding balance for that period, plus a portion of the principal. Early in the loan term, more of each payment goes to interest; over time the principal component grows. For an interest-only loan, repayments cover only the interest accrued — the principal balance does not reduce during the interest-only period.
A principal and interest (P&I) loan requires repayments that reduce the loan balance over the term, so the debt is fully repaid at the end. An interest-only loan requires lower repayments during the interest-only period, but the full loan principal remains owing at the end of that period and must then be repaid — either by refinancing, selling, or switching to P&I repayments.
No. This is a repayment estimator only — it shows what a given loan amount would cost per repayment at the rate and term you enter. It does not assess your borrowing capacity, creditworthiness or eligibility for any loan product. For borrowing capacity, speak with a licensed mortgage broker or your lender.
Switching from monthly to fortnightly or weekly repayments can reduce the total interest paid over the life of a P&I loan, because more frequent payments reduce the outstanding balance faster. The effect depends on whether your lender calculates interest daily and applies payments immediately — confirm how your lender structures frequency with them directly.
General information from AgentBridge, a property distribution business. It is not financial, legal or credit advice. This is a repayment illustration only — not a quote and not credit assistance. For borrowing capacity, speak with a licensed mortgage broker.