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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 to see what your ongoing repayments might look like.
Calculate Your Repayments and See If You Could Save
How to use the Mortgage Repayment 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.
iSelect powered by AFG does not compare all home loan lenders or products in the market. Some products may only be available from iSelect powered by AFG’s call centre. The availability of products may change from time to time. Not all products available from iSelect powered by AFG’s providers are compared due to commercial arrangements, your stated needs and circumstances. Not all products compared by iSelect powered by AFG will be available to all customers. Click here to iSelect powered by AFG’s range of lenders. Home loans products arranged by iSelect Mortgages Pty Ltd (ACN 148 217 181) powered by AFG, is an authorised credit representative of Australian Finance Group Limited (Australian Credit Licence Number 389087). Any advice provided in this email/article is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect powered by AFG’s advice or purchasing any product. iSelect receives commission for each product sold.