- Home Loan Options
- First Home Owners Grant
- First-time home buyers: First home loan
- Stamp duty – what you need to know
- Home Loan Calculators
- How much does it cost to refinance your home loan?
- 10 tips to paying off your mortgage quicker
- How to refinance your home loan
- How to decide if it’s time to refinance your home loan
- Using your home loan to consolidate debt
- Refinancing your home loan to make a purchase
- Your guide to comparing home loans
- Mortgage brokers – should I use a mortgage broker?
- How interest rates affect your home loan
- Fixed vs variable interest – which is best for you?
- About Home Loans
- Home Loan Product Information
Home Loan Repayment Calculator
It’s no secret that buying a property is a big financial commitment. That’s why it’s so important to make sure you’re comfortable with the ongoing repayments.
The best way to structure your home loan will depend on your personal circumstances and why you’re purchasing the property – that is, whether you plan to live there as your primary residence or rent it out as an investment property.
However, bear in mind that different loan options can potentially have a big impact on the ongoing repayments and overall cost of the loan. The term of the loan, whether you’re on a fixed or variable rate, and the repayment type can all affect how much you’ll be paying back each week, fortnight or month.
Use iSelect’s Home Loan Repayment Calculator to see what your ongoing repayments might look like.
How to use the calculator
Simply fill in:
- The amount you’re borrowing.
- The loan period.
- The loan type – variable, fixed or introductory.
- The interest rate.
- How often you make repayments – monthly, fortnightly or weekly.
- Your repayment type – principal and interest, or interest only.
How to read the results
The Home Loan Repayment Calculator will give you an indication of the ongoing repayments, as well as the total interest payable on the home loan.
One line on the graph indicates the principal remaining each year, and the other line includes interest charges to represent the total amount left to pay on the loan.
You can also see a yearly breakdown of this information, with a table showing the interest charged per annum, the principal remaining, and the total amount owing.