How Long to Repay Calculator
Estimate the time it will take to pay off your home loan with our easy-to-use calculator. See how extra repayments can shorten your loan term and save you money on interest.
Loan Repayment Calculator
Understand Your Results
This calculator helps you determine the remaining term of your mortgage. By entering your loan details, you can see how long it will take to be mortgage-free.
Loan Amount: The total amount you have borrowed.
Interest Rate: The annual interest rate for your loan.
Repayment Amount: How much you are paying back each period.
Repayment Frequency: How often you make repayments (e.g., monthly, fortnightly).
Making extra repayments can significantly reduce your loan term and the total interest paid.
Ready to Discuss Your Home Loan?
Our team of experts is here to help you understand your options and find the right loan for your needs.
Frequently Asked Questions
How can I pay off my loan faster?
You can make extra repayments, increase your repayment frequency (e.g., from monthly to fortnightly), or refinance to a loan with a lower interest rate.
What is a loan term?
The loan term is the period over which you agree to repay your loan. For home loans in Australia, this is typically 25 or 30 years.
Does the interest rate affect my loan term?
Yes. A higher interest rate means more of your repayment goes towards interest, which can extend the time it takes to pay off the principal if you're only making minimum repayments.
Should I choose a fixed or variable rate?
A fixed rate provides certainty with your repayments, while a variable rate may offer more flexibility and could be lower if rates fall. We can help you decide what's best for your situation.