Australian principal-and-interest home-loan estimate
This calculator models equal monthly principal-and-interest repayments over the selected loan term. It assumes the entered rate applies for every payment and does not model an interest-only period.
Rate, fees and loan features
A low advertised rate is only one part of a home-loan comparison. Establishment and ongoing fees, a comparison rate, offset-account charges, redraw conditions, extra-repayment limits and fixed-rate break costs can change the practical cost. A variable rate can also change the repayment after the loan begins.
The output excludes stamp duty, conveyancing, building and pest inspections, council and water rates, home insurance, repairs, strata charges and lenders mortgage insurance. If a fee or insurance premium is added to the loan balance, include that financed amount in the principal to see its effect on repayments.
Compare scenarios consistently
Use the same principal and term for each lender, then test the offered rate and a higher rate. Review the lender's Key Facts Sheet and ask what happens when a fixed or introductory period ends. An offset account can reduce interest when money is held in it, but this simple formula does not model a changing offset balance.
ASIC Moneysmart: choosing a home loan
Frequently asked questions
Does the calculator include an offset account?
No. It assumes interest is charged on the full outstanding loan balance.
Are purchase costs included?
No. Budget separately for duties, legal work, inspections, insurance and ongoing property costs.
Can I use it for interest-only repayments?
No. It models principal-and-interest repayments from the first payment.