Work out the repayment before you fall for the property
Move the sliders to see what a loan actually costs each month, each fortnight, and across the whole term. Every assumption behind the number is written underneath it.
Estimate your repayments
Your estimated repayment
$3,939/month
Fortnightly
$1,969
Total interest
$768,028
Total amount
$1,418,028
Estimate only, based on a principal and interest loan with the rate held constant for the full term. It excludes fees, lenders mortgage insurance and rate changes, and it is not an offer of credit.
The term does more than the rate
Stretching a loan from 25 to 30 years lowers the monthly figure and raises total interest substantially. Shortening it does the reverse. Move the term slider and watch the total interest line rather than the monthly one.
Fees are not in this number
Application fees, ongoing account fees, valuation costs and lenders mortgage insurance all sit outside the calculation above. On a real comparison they can outweigh a small rate difference.
Fortnightly is not simply half
Paying half the monthly amount every fortnight means 26 half payments a year instead of 24, so you make roughly one extra monthly repayment annually. That is why the fortnightly figure shortens the loan.
Your rate is not the advertised rate
Pricing depends on your deposit, the property, your income type and the lender's current appetite. The only way to know your number is to have your file assessed.
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