Mortgage Calculator Australia 2025 | Free Repayment Calculator

Mortgage Calculator

Calculate your mortgage repayments and see how extra payments can save you thousands. Free Australian mortgage calculator for 2025.

Mortgage Repayment Calculator

Standard Repayments

Monthly Payment
$3,693
Total Interest
$729,617
Loan Term
30 years

With Extra Payments

Monthly Payment
$3,693
Interest Saved
$0
New Term
30 years
Compare Rates From 83 Lenders

No-cost assessment. No obligation. Takes 2 minutes.

How Extra Repayments Save You Money

Small extra payments can make a huge difference over the life of your mortgage. Here's what adding extra repayments to a $600,000 loan at 6.25% could save you:

$100/month
Extra Payment
$71,543
Interest Saved
3 yrs 4 mo
Time Saved
$250/month
Extra Payment
$150,897
Interest Saved
7 yrs 2 mo
Time Saved
$500/month
Extra Payment
$243,628
Interest Saved
11 yrs 8 mo
Time Saved

Tips to Pay Off Your Mortgage Faster

1

Make Fortnightly Payments

Paying fortnightly instead of monthly means you make 26 half-payments per year (equivalent to 13 monthly payments). This extra payment goes straight to your principal and can shave years off your mortgage.

2

Use an Offset Account

Money in an offset account reduces the balance your interest is calculated on. If you have $50,000 in offset against a $600,000 loan, you only pay interest on $550,000. Keep your savings in offset rather than a regular savings account.

3

Round Up Your Payments

If your payment is $2,847, round it up to $2,900 or $3,000. The extra amount is barely noticeable week-to-week but adds up to significant savings over 30 years.

4

Review Your Rate Regularly

Interest rates change constantly. If you haven't reviewed your mortgage in the past 1-2 years, you could be paying more than necessary. Even a 0.25% reduction on $600,000 saves over $1,500 per year.

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Find a Better Mortgage Rate Today

Compare rates from 83 lenders and see how much you could save. No-cost assessment, no obligation.

Get Your Personalized Rate

Frequently Asked Questions

In Australia, "mortgage" and "home loan" are used interchangeably. Technically, a mortgage is the legal agreement that secures the loan against your property, while a home loan is the actual money borrowed. In everyday use, both terms mean the same thing.

Your borrowing capacity depends on your income, expenses, existing debts, and the interest rate. As a rough guide, most lenders will lend up to 6x your annual household income. For example, a household earning $150,000 may be able to borrow up to $900,000. Use our borrowing power calculator for a more accurate estimate.

Fixed rates give you certainty - your payments won't change for the fixed period. Variable rates can go up or down with the market and usually offer more flexibility (offset accounts, extra repayments). Many borrowers choose a split loan with part fixed and part variable. Learn more in our fixed vs variable guide.

Common mortgage fees include: application fee ($0-$600), valuation fee ($200-$400), settlement fee ($200-$400), ongoing fees ($0-$400/year), and discharge fee when paying off ($150-$400). Many lenders now offer fee-free or low-fee loans. Always compare the comparison rate, which includes fees.

Ricky Esteb - Licensed Mortgage Broker
Richard (Ricky) Esteb
Licensed Mortgage Broker & Founder
Credit Rep #574071 ACN 681 636 056 83+ Lender Panel

With direct experience helping Australians secure home loans, car finance, and business funding, Ricky founded Esteb and Co to bring transparency and technology to mortgage broking. Every piece of content is written from real-world lending experience.

✓ Verified & Last Reviewed: December 2025 | Content meets ASIC regulatory requirements
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