Australia · AUD · Mortgage and repayment
Australian Mortgage Calculator
Estimate repayment or interest-only payments using actual price, deposit, rate and financed charges.
Reference scope documented 2026-10-25. Use actual lender/insurer quotes and confirmed scheme/tax status. APRA buffers and DTI flow limits do not establish personal approval. Published general-duty budgets exclude unconfirmed concessions and surcharges.
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Educational estimate, not financial advice. Disclaimer · Methodology · Corrections.
How this estimate works
Principal = property price − deposit + actual financed charges. P&I amortizes it using annual nominal rate / 12; interest-only charges monthly interest and leaves principal due. At zero interest, P&I is principal / months.
Assumptions and limits
- Amounts are AUD. Enter actual quotes, current balances and costs. No current bank offer or insurer price is invented.
- Constant-rate nominal monthly model. Daily accrual, actual payment dates, rate resets, offsets, fees and lender rounding can change results. A repayment period is different from a fixed-rate product term.
- Educational scenarios only; no serviceability, scheme/insurer eligibility, tax assessment or loan approval is established.
- Enter the all-in financed LMI amount once. Offset savings are modeled separately without pretending offset cash repays principal.
References and further reading
Start with the amount actually financed
The property price is not automatically the loan balance. Subtract the cash deposit, then add only the charges that the lender has agreed to finance. Keep upfront cash fees separate. This makes the result useful for comparing a real offer with another offer on the same basis. It does not estimate a valuation, approve a loan-to-value ratio or price lenders mortgage insurance from a generic risk table.
Monthly scenarios simplify the real account
The repayment calculation uses the stated annual-rate assumption and regular monthly periods. A lender may accrue interest daily, debit it on particular dates, round account entries and change a variable rate during the year. Those differences can make a statement differ from the constant-rate schedule. The model is useful for transparent comparisons; the contract and account transactions remain the source for an exact settlement or discharge amount.
An interest-only period leaves principal outstanding
Choosing interest only reduces the scheduled payment by excluding principal repayment. It does not eliminate the balance. When the loan switches to principal and interest, the remaining repayment period can be shorter and the debit larger. Use the interest-only transition tool to examine that later payment. Check the actual permitted period and refinancing conditions instead of assuming that the low initial debit can continue indefinitely.
LMI and purchase duty need separate evidence
An LMI cost is an insurer or lender quote, not a universal percentage that can be safely inferred from the deposit. State or territory duty depends on its own rules, transaction value and confirmed concessions or additions. This page does not award a first-home concession. Use the actual-quote LMI tool and the appropriate duty budget, and reconcile the total cash needed before deciding how much of your savings can be used as a deposit.
Offset balances and frequency choices are separate decisions
An offset account is not the same as reducing the contractual loan principal by the offset balance. Its future cash movements and product costs affect savings. Use the offset tool for a clearly stated balance path, and the frequency tool to distinguish regular from accelerated repayment. Do not lower principal in this purchase calculator and also claim the same cash as an offset benefit. Compare the actual interest basis and costs of the offered products.
Policy rates are context rather than an offer
The RBA cash-rate target is sourced and dated separately on the country hub. It does not fix the mortgage rate, lender spread or eligibility outcome. A household payment scenario also differs from a lender's serviceability assessment. Enter a written quote here; use the budget or DTI tools for their stated assessment assumptions and keep ordinary living expenses in the cash plan.
Worked Australia example: Australian Mortgage Calculator
This is a hypothetical arithmetic example in AUD, not a current lender quote, market observation or borrower record. The same calculator model produces the figures below. Its input assumptions are shown so that you can reproduce or change the scenario.
| Assumed input | Illustration value |
|---|---|
| Property price (AUD) | 700,000 |
| Cash deposit available after closing reserve (AUD) | 140,000 |
| Actual / scenario annual nominal rate (%) | 6.19 |
| Remaining repayment years | 25 |
| Repayment type | Principal and interest |
| Confirmed LMI / fees financed into principal (AUD) | 0 |
| Other quoted cash purchase costs (AUD) | 0 |
| Calculated measure | Result |
|---|---|
| Monthly principal & interest | A$3,673.41 |
| Starting mortgage principal | A$560,000.00 |
| Constant-rate projected interest | A$542,021.97 |
| Principal left at end of interest-only model | A$0.00 |
| Deposit plus entered cash costs | A$140,000.00 |
| Principal / property value | 80% |
Amounts use unrounded intermediate arithmetic and are rounded only for display. Selecting different costs, rates, payment dates or terms changes the result; no illustration value is prefilled into your personal financial fields.
Questions about this Australia mortgage estimate
Will this Australian estimate equal the lender's daily-interest statement?
Not necessarily. Monthly model periods, transaction dates, daily accrual, rounding and variable-rate changes can differ. Match principal, rate and term first, then ask the lender to explain its account convention.
Can I include an Australian LMI quote in the principal?
Only if the lender permits it. Enter the confirmed financed amount once, or keep it as a cash cost. This calculator does not generate an insurer tariff or decide that a particular deposit avoids insurance.
Should an offset balance be entered as an extra deposit here?
Only if that cash is actually being used to reduce the financed purchase balance. Money remaining in an offset account has a different role. Use the offset model to compare that balance path and avoid counting the same funds twice.