Mortgage repayment calculator
Have your eye on a place but not sure what it would cost you each week? Work out your home loan repayments below, then see how they stack up against what you are paying in rent. No sign-up, no jargon.
Repayment calculator
Estimated monthly repayment
Principal and interest, at the rate and term you entered.
This calculator gives an estimate only. It assumes a constant interest rate over the full term and does not account for lenders mortgage insurance, fees, offset accounts, rate changes or your borrowing capacity. It is not a quote, a loan approval or credit advice. Figures should be confirmed with Oui Finance and your lender before you rely on them.
What the numbers mean
Three inputs drive every home loan repayment. Here is how to think about each one.
The loan amount
This is the property price minus your deposit. A bigger deposit means a smaller loan and lower repayments, and 20 percent or more usually avoids lenders mortgage insurance.
The interest rate
Even a small difference in rate changes what you pay over the years. Drag the slider to see the effect. We compare rates across our lender panel to find one that suits you.
The loan term
A longer term lowers each repayment but adds interest over time. A shorter term costs more per repayment and less overall. Extra repayments chip away at both.
Could a repayment cost about what you pay in rent?
For a lot of the people we help in Perth, the weekly repayment on a first home lands closer to their rent than they expected. The calculator above shows the gap in real numbers, so you can plan the move rather than guess at it.
Rent is money you will not see again. A repayment builds equity in something you own. It is not always the right time for everyone, and the sums have to work, but knowing the numbers is the first step. When you are empowered to make a move, you get the luxury of choice.
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How is a mortgage repayment calculated?
A mortgage repayment is worked out from three things: the loan amount, the interest rate and the loan term. This calculator uses the standard principal and interest formula that most Australian lenders use, spreading the loan plus interest evenly across every repayment for the life of the loan. Change the frequency to monthly, fortnightly or weekly and the amount per repayment adjusts to match.
Will fortnightly repayments save me money?
Often, yes. Paying half the monthly amount every fortnight means you make the equivalent of 13 monthly payments a year instead of 12, so a little extra goes onto the loan and you pay it off sooner with less interest. This calculator shows weekly, fortnightly and monthly side by side so you can see the difference. Whether a lender allows it depends on the product.
Do these figures include fees, LMI or stamp duty?
No. This is a principal and interest estimate on the loan amount only. It does not include lenders mortgage insurance, application or ongoing fees, stamp duty or offset arrangements, and it assumes the rate stays the same for the whole term, which real rates rarely do. Reach out and we will give you figures based on your actual situation and current lender rates.
How much can I borrow for a home loan?
How much you can borrow depends on your income, expenses, deposit, existing debts and the lender's credit criteria, not just the property price. This calculator estimates repayments on a loan amount you enter. To find out what you could actually borrow, reach out to Oui Finance for a no obligation chat and we will review your situation across our lender panel.
What deposit do I need to buy a home?
Many lenders look for around 20 percent of the property price to avoid lenders mortgage insurance, but there are low deposit options and government schemes, especially for first home buyers, that let you buy with less. Enter a property price and deposit in the calculator to see the loan amount and repayments, then reach out and we will talk through your deposit options.
Turn an estimate into a real plan
Numbers on a calculator are a start. Reach out for a plain-language chat and we will give you figures based on your situation and real lender rates, with no obligation.
Reach out to Oui Finance