Mortgage Repayment Calculator
Estimate your monthly payments, see the impact of interest rates, and see how much you can save by paying off your loan sooner.
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Estimated Repayments
Repayment Breakdown
Lenders Mortgage Insurance (LMI) Warning
Your deposit is 0%. Banks typically require a 20% deposit to avoid LMI. LMI is an insurance policy that protects the lender, not you, and it can add thousands to your loan costs.
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Speak with a BrokerHow is this calculated?
For Principal & Interest (P&I) repayments, the formula used is:
M = P * (r * (1 + r)^n) / ((1 + r)^n - 1)
where P is the loan principal (property price minus deposit), r is the monthly interest rate (annual rate divided by 12 months, then divided by 100), and n is the total number of monthly payments (term years multiplied by 12).
Disclaimer: This calculator is provided as a general estimate tool only. Calculated repayment amounts do not constitute a loan offer or financial advice. Actual rates and loan qualifications are subject to lender credit policies, fee schedules, and personal credit scores.