Why Use A Mortgage Repayment Calculator?
Looking to buy property but want to know what your repayments look like? Understanding how much you will be up for in your repayments can help you make the leap into purchase!
At Mortgage House, we want you to be excited about buying a house and that’s why we’ve made it simple. Understanding your repayments is easy with our Mortgage Repayment Calculator.
You can change the variables and test out your options using the toggles with our repayment mortgage calculator to calculate loan repayments quickly and easily.
Calculate Loan RepaymentsProviding an idea on your home loan, calculator repayments offer home buyers an estimate of their mortgage repayment options.
User FriendlyWith easy-to-use toggles, our Mortgage Repayment Calculator is the ideal tool for any home buyer.
Adjust Toggles For VariablesChange the interest rate, loan period, loan amount and loan type to see a multitude of different repayment options.
Get The Ball RollingGet excited about buying your home with real numbers on what your repayments will look like and how they will fit into your budget.
Check Your Repayments Here
Estimate your mortgage repayments below by easily adjusting the toggles with our calculator.
Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. Please note that your actual fortnightly repayment would be equal to the monthly repayment amount divided by two. Weekly repayments would equal the monthly repayment amount divided by four. If you choose to pay fortnightly or weekly, your actual repayments will be higher than repayments shown on this page. You can reduce the term of your loan if you choose to make repayments fortnightly or weekly. We recommend you seek independent legal and financial advice before proceeding with any loan.
Want to Know More About Mortgage Repayments?
What is repayment on a mortgage?
Repayment simply means paying back a certain amount of money you have borrowed. Everyone’s mortgage is different and therefore everyone’s mortgage repayment formula is independent of their loan. Your mortgage repayments are calculated by the type of loan you have (fixed or variable), amount of purchase price and your choice of monthly, fortnightly or weekly payments. Understand what the benefits of each repayment frequency option are here.
How are loan repayments calculated?
Factoring in a multitude of different variables, loan repayments vary from mortgage to mortgage. The type of loan you have (fixed or variable), amount of purchase price and your choice of monthly, fortnightly or weekly payments are all factors that are taken into consideration when calculating your repayments. Using a repayments calculator to calculate loan repayments is the best way to understand your repayments. Learn more about repayment calculations here.
What's the difference between interest-only and repayment mortgage?
Significantly smaller in repayment size, an interest-only mortgage requires you to only pay back the interest on your loan. A repayment mortgage includes your interest and the initial sum borrowed. There are perks of both but depending on your financial situation will depend on which one you opt for.
An interest-only loan still requires you to pay off your total mortgage at the end of the mortgage term whereas the repayment mortgage chips away at it within the repayments. Checking your repayment options with a home loan repayments calculator is the best place to start to estimate how much your repayments will be.
What is the difference between payment and repayment?
Both are nouns and require you to pay a certain amount of money. A repayment is paying back money that you have borrowed or loaned, whereas a payment is simply the act of paying for something. The repayment means you already have the product or service and a payment is paying for that product or service.
How can I find out what my home loan repayments will be?
Everyone’s mortgage and repayments are different. The best place to understand your home loan repayments will be by using a calculator. Using this calculator can tailor your repayments using payment frequency, loan type and amount borrowed. Heavily based on the frequency you choose, you can understand the benefits of using fortnightly repayments here.
How do you calculate mortgage repayments?
Calculated using a formula of loan amount, loan type, length of loan and amount borrowed, your mortgage repayments are unique to you and your purchase property. Using a mortgage repayment calculator can help you understand how much you will pay, when and how. Repayment options are endless and the benefits of weekly repayments are evident.
How are monthly repayments calculated?
Mortgage repayments are calculated through a formula of frequency, loan type, length and amount. Using a repayment mortgage calculator can assist you in understanding how much your home loan repaymentswill be. Your income plays a huge role in how your repayments are calculated. For more of an idea of how much your income can affect your mortgage repayments, this article offers insight.
What is the formula for calculating a 30-year mortgage?
Using the toggles and inputs in our calculator, you can change the loan period, interest rate, loan type and loan amount to help you calculate loan repayments. This calculator helps you to gauge your principal and interest repayments; whether that be for 10 years or 30. Don’t be shocked, there are a few ways to lower your mortgage if it seems too much, including investment property options or increasing the length period of your loan.
How do I calculate mortgage repayments in Excel?
Do you have a microsoft account? If yes, using PMT you can calculate the monthly payment of your mortgage. This can be done by inputting the period of loan, interest rate and current home value (loan amount). This can be confusing and can also cause you to forget some things. Our Calculator creates the options for you! Input your variables to assess your repayments with Mortgage House today!
Mortgage Repayment Calculator
Important Disclaimer: This information is intended as a guide only. The calculation of fortnightly and weekly instalments varies with the specific loan product. Higher loan repayments will be required on principal and interest loans where the instalment calculation is based on half the monthly payment for a fortnightly payment or a quarter of the monthly payment for a weekly payment. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House's prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan.
What Do Your Principal and Interest Repayments Look like?
Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House's prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan. The Comparison Rate for each of the home loan products contained in this page is based on a loan of $150,000 over a 25 year term. Fees and charges may be payable.
WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. * This mortgage calculator shows indicative repayments based on 12/26/52 equal repayments for monthly/fortnightly/weekly options.