Monthly Repayment
A$NaN
Principal
A$3,75,000
Total Interest
A$NaN
Total Amount Repaid
A$NaN
Australian Mortgage Calculator — Loan Amount A$3,75,000
With loan amount of A$3,75,000, the monthly repayment is A$2,370.
The amount you are borrowing (purchase price minus deposit)
Current average variable rate is approximately 6.3–6.8% in 2025
Monthly Repayment
AUD3,160
Principal
AUD5,00,000
Total Interest
AUD6,37,722
Total Amount Repaid
AUD11,37,722
Calculated as principal and interest (P&I). Interest-only repayments are lower but do not reduce the principal. Does not include LMI, offset account benefits, or redraw.
What is the Australian Mortgage Calculator?
Australian home loan repayments are calculated using the standard EMI formula. Most Australian mortgages are variable rate, but the calculation is the same for fixed-rate periods. Principal and interest (P&I) repayments pay down the loan over time, while interest-only repayments keep the balance constant. Use this calculator for P&I home loans.
Formula
Monthly Repayment = P × r × (1+r)^n ÷ ((1+r)^n − 1), where r = annual rate ÷ 12 and n = loan term in months.- P
- = Loan principal
- r
- = Monthly interest rate (annual rate ÷ 12)
- n
- = Number of monthly repayments (years × 12)
How to use the Australian Mortgage Calculator
- 1
Step 1
Enter your loan amount (purchase price minus deposit).
- 2
Step 2
Enter the interest rate offered by your lender.
- 3
Step 3
Select the loan term in years (standard is 30 years in Australia).
- 4
Step 4
View monthly repayments, total interest, and total amount repaid.
Reviewed by
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Frequently asked questions
What is the average home loan interest rate in Australia in 2025?
Average variable home loan rates are approximately 6.2–6.8% p.a. in 2025 following the RBA rate cycle. Fixed rates for 2-year terms are around 5.9–6.4% depending on the lender.
How much deposit do I need for a home loan in Australia?
Most lenders require a 20% deposit to avoid Lenders Mortgage Insurance (LMI). With less than 20%, you can still borrow but will pay LMI premiums — typically 1–3.5% of the loan amount.
What is the difference between P&I and interest-only repayments?
Principal and interest (P&I) repayments reduce your loan balance each month, building equity. Interest-only repayments are lower but leave the balance unchanged — common for investors but typically capped at 5 years.
Can I pay extra on my Australian mortgage?
Most variable-rate mortgages allow unlimited extra repayments free of charge. Fixed-rate mortgages may have annual prepayment caps (typically $10,000–$20,000). Extra repayments directly reduce the principal and cut total interest.
Sources
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