Repayment Calculator
Estimate your regular home loan repayments based on amount, rate, and term.
Disclaimer: This calculator provides estimates only and does not constitute financial advice. Actual repayments may vary. Contact Reficity for a personalised assessment.
Understanding Home Loan Repayments
Your home loan repayment is calculated using three key factors: the loan amount (principal), the interest rate, and the loan term. Most home loans in Australia use a principal and interest (P&I) repayment structure, where each payment covers both the interest charged and reduces the loan balance.
Choosing a shorter loan term means higher repayments but significantly less total interest. Conversely, a longer term reduces your regular payments but increases total cost. Many borrowers find that switching from monthly to fortnightly payments can shave years off their loan.
Tip: Even a 0.5% reduction in your rate on a $500,000 loan can save you over $50,000 in interest over 25 years.