Mortgage Calculator for Australia
Estimate monthly mortgage payments including principal, interest, taxes, and insurance.
Region: Australia (AUD)
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Quick Tip
Set the term to 30 years and the property tax field to 0 (or your council rates as a percentage) to see your loan repayment in Australian dollars.
About This Tool
Why use Mortgage Calculator?
Most Australian home loans run for 30 years, and variable rates are common, often combined with an offset account or redraw facility. Lenders must show a comparison rate alongside advertised rates, which combines the interest rate with most fees and charges.
A deposit below 20% usually means paying Lenders Mortgage Insurance (LMI), which protects the lender, not you. Stamp duty (transfer duty) is charged by each state and territory, and council rates, strata levies and home insurance are paid separately from your loan repayments.
Key Benefits
Principal and interest repayments
Calculates standard monthly repayments on a 30-year Australian home loan.
Rate rise check
Variable rates move with the market, so test your budget at a rate a few percent higher.
Deposit planning
Compare deposits of 5%, 10% and 20% to see the loan size and when LMI may apply.
How to use Mortgage Calculator
- 1
Set the term to 30 years and the property tax field to 0 (or your council rates as a percentage) to see your loan repayment in Australian dollars.
- 2
Enter the home price and your deposit (down payment) as a percentage.
- 3
Add the interest rate you have been quoted and the loan term in years.
- 4
Enter the yearly property tax rate and annual home insurance, or set them to 0 if they are not paid with your mortgage.
- 5
Compare the total monthly payment and total interest, then try a shorter term or bigger deposit.
Best use cases
Check what a home at a given price will really cost each month once property tax and insurance are added.
Compare a 15-year and a 30-year term to see how much total interest the shorter loan saves.
Test how a larger down payment changes the loan amount and the monthly payment.
Sanity-check a lender's quoted payment before you sign the loan estimate.
Mortgage Calculator FAQs
What is Lenders Mortgage Insurance?
LMI is a one-off premium most lenders charge when your deposit is below 20% of the property value. It protects the lender if you default and is often added to the loan amount.
What is a comparison rate?
It is a rate that combines the interest rate with most upfront and ongoing fees, calculated on a standard loan amount and term. It helps compare loans, but your actual cost depends on your own loan size and fees.
Do fortnightly repayments save interest?
Paying half the monthly repayment every fortnight means 26 half-payments, the equivalent of 13 monthly repayments a year. That extra repayment reduces the principal faster and cuts interest.
How does an offset account work?
Money in a linked offset account is subtracted from your loan balance when interest is calculated, so savings reduce your interest cost while staying accessible.
Which currency does this mortgage calculator use?
Amounts are shown in Australian Dollars (AUD). The formulas are the same everywhere, so you can switch to another country version if you need a different currency.
Related Finance Tools
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