Australian Home Loan Calculator
Repayments, offset power and extra-payment savings — the three levers of an Aussie mortgage. Free, private, no signup.
Your home loan
Savings sitting in your offset — you pay no interest on this portion.
Monthly repayment
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With offset + extra-
Interest saved-
Time saved-
Loan paid off in-
Balance over time
■ Minimum repayments ■ With offset + extra
The offset account: Australia's mortgage superpower
An offset account is a transaction account linked to your mortgage: every dollar in it cancels a dollar of loan balance for interest purposes. A$50,000 in offset on a A$600,000 loan means you pay interest on A$550,000 — while the money stays fully accessible, unlike extra repayments locked in redraw.
- Offset beats a savings account. A$50k in offset at 6% saves A$3,000/year in interest — equivalent to earning ~4.3% after tax in a HISA (for a 30% taxpayer), with zero risk and instant access.
- Extra repayments attack principal directly. Even A$200/month on a 30-year loan cuts years off and saves tens of thousands — try it above.
- Watch the LMI line. Borrowing over 80% of the property value triggers Lenders Mortgage Insurance — often A$5k–15k capitalised into the loan. A bigger deposit can beat a lower rate.
Variable vs fixed
This calculator assumes a constant rate. Most Aussie loans are variable — the RBA cash rate moves your repayments. Stress-test: add 2% to the rate above and check you can still afford it. Fixed rates give certainty but usually can't be fully offset and limit extra repayments.
FAQs
Offset vs redraw — which is better?
Offset keeps cash accessible and separate; redraw pulls from extra repayments you've made. Offset wins for flexibility and tax (redrawn money for investment can tangle deductibility). Redraw is fine if your loan has no offset option.
How much can I borrow in Australia?
Banks stress-test at ~3% above the actual rate and generally cap repayments around 30% of gross income. Use our numbers above as the repayment side of that test.
What about stamp duty?
Stamp duty is state-based and significant (e.g. ~A$20k+ on a A$700k NSW property, with first-home concessions varying). It's paid on top of the deposit — this calculator covers the loan itself.
Fortnightly vs monthly repayments?
Paying half the monthly amount fortnightly makes 26 half-payments = 13 monthly payments a year — one extra payment annually, shaving ~4 years off a 30-year loan. Ask your lender for the option.
Is my data sent anywhere?
No. Everything is computed in your browser; nothing leaves your device.
Disclaimer: Estimates for illustration, computed in your browser — no data leaves your device. Assumes a constant interest rate; variable loans move with the RBA cash rate. Not financial advice — verify with your lender.