Mortgage Repayment Calculator Australia 2026
Calculate your monthly mortgage repayments in Australia for 2026. See total interest cost and full repayment schedule.
Monthly Repayment (Example: A$500,000)
at 6.5% interest over 30 years · Australia 2026
Loan Amount
A$500,000
Interest Rate
6.5% p.a.
Total Interest
A$637,722
Total Repaid
A$1,137,722
How to Calculate Mortgage Repayments in Australia
A A$500,000 mortgage in Australia at 6.5% interest over 30 years results in monthly repayments of A$3,160.34. You will pay a total of A$1,137,722 over the term, of which A$637,722 is interest — 128% of the original loan amount.
To get the most accurate repayment figure for your specific situation, use our Loan & ROI Calculator with your exact loan amount, rate, and term. Check whether you can afford the repayments with our Loan Affordability Calculator.
⚠️ Disclaimer: These are estimates only based on a fixed interest rate. Actual repayments depend on your lender, fees, rate type, and personal circumstances. Always consult a licensed mortgage advisor.
How Home Loan Repayments Work in Australia
Australian home loans are calculated using amortisation — each monthly payment covers both interest and principal. Early in the loan, most of your payment is interest. Over time, more goes to principal as the balance reduces. A typical 30-year loan at 6.5% means you'll pay roughly 200–220% of the original loan amount in interest over the full term.
In Australia, the Reserve Bank of Australia (RBA) sets the cash rate, which variable mortgage rates track closely. As of 2026, most owner-occupier variable rates sit around 6–7%.
One of the most powerful strategies for reducing total mortgage cost is making extra repayments. Even an additional monthly payment equal to 10% of your regular repayment can reduce a 30-year mortgage term by 4–5 years and save significant amounts in interest. Most lenders allow extra repayments without penalty on variable-rate loans.
When comparing mortgages, look beyond the interest rate to the comparison rate (Australia), Annual Percentage Rate or APR (USA), which includes fees. A low headline rate with high fees can cost more overall than a slightly higher rate with no fees.
