Home loan interest calculator

Want to apply for a home loan? Use a home loan interest calculator to find out just how much interest you’ll pay and track down the perfect loan for you.

It’s important to closely check the terms and conditions that come with any home loan you’re considering taking out, especially the interest that will accrue on your outstanding amount. This is to help plan your repayment process and make sure that you do not end up paying far more than you borrowed through interest.

The home loan interest calculator on this page is designed to help you find out how much interest you’re going to pay on your loan and can help you design your loan repayments in a way that will cut down on interest earned. This helps you to prepare for your repayments in advance, or it can prompt you to reconsider whether you can afford to take out a particular loan.

How to use the home loan interest calculator

The major advantage of using a home loan interest calculator is the fact that it has been designed to make your work easier and doesn’t require that you be a financial genius to be able to make these calculations. All that is needed is for you to input information on the loan in the relevant fields.

  • Loan amount. This is the amount that you want to borrow.
  • Loan terms. This is the length of time you intend to borrow the funds for. The loan term will affect the amount of interest accrued and consequently the amount you will end up repaying. This also has an effect on the amount of your monthly repayments. Generally speaking, the lower your loan term, the higher your repayments will be.
  • Interest rate. The rate offered by the loan is very important as high rates might mean you end up paying an amount close to what you borrowed in interest. When calculating your expected interest on a home loan, the interest rate offered is crucial.
  • Introductory and ongoing rate. Some loans offer different rates for the initial period and the period thereafter. The ongoing rate is the rate offered after the introductory period ends and the loan reverts back to its standard rate.
  • Introductory period. If the home loan comes with an introductory period, the length of the period will determine the total amount you pay for your loan.
  • Repayment. Different loans have different repayment terms, with some offering principal and interest repayment or interest-only payments.

Why is it important to use a home loan interest calculator?


When trying to figure out which home loan is right for you, it’s easy to get confused by all the financial terms and features of the various loans. The more you visit experts or banks, the more confused and bogged down in jargon you might get. This is where home loan interest calculators come in.

The finder.com.au home loan calculator helps you break down some of the features that come with the loan, such as repayments and interest rate, and helps you figure out if the loan is perfect for you. By inputting the necessary details of your loan into the calculator you get to learn how much interest you will end up paying and how each repayment option will affect your ability to repay the loan. You get to compare loans and look at principal and interest or interest-only repayments and how each translates to the total cost. The amortisation tab helps to break down each payment you make.

FAQ about home loan interest calculators

Can I calculate how additional repayments will affect my loan repayment?

Yes. If you want to make extra repayments, you can easily input this information into the home loan calculator to help you figure just how much interest is earned on your outstanding amount. This also applies for any lump sum payments you make and any payments made on the principal amount.

Can the home loan interest calculator help me determine how much I should borrow?

Yes. By knowing how much interest your loan amount will accrue, the home loan calculator will help you determine just how much you can afford to pay each month, and therefore how much you can borrow. You can also use a borrowing power calculator if you want to get an estimate about how much you might be able to borrow.

Do I still need to consult a loans expert?

Our home loan interest calculator is designed to help you break down the information on your home loan and guide you as you choose a home loan that suits your needs. It is still important to consult a professional who will be able to look at your financial position and help you make your final decision.

A home loan is one of the ways to get funding for purchasing or renovating a house. The decision to get a specific loan is not something to be approached lightly, which is why home loan interest calculators are vital tools. Get to know a little more about home loan interest calculators by checking out some of the commonly asked questions below.

With so many home loans available, it’s always prudent to thoroughly check your options before deciding which way to go. Home loan calculators are one of the best ways to inspect whether you are making the right decision and whether you can afford to take out a home loan.

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NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I) First Home Buyer Special

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Pay no application or ongoing fees and get access to a redraw facility and flexible repayment schedule. Refinance to a UBank loan and you could get $1,000 in your USaver account (offer conditions apply).

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤90% ($150K+ Owner Occupier)

Loans over $150k get a discount off an already low fixed rate. Available for NSW, Qld and ACT residents only.

Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150,000+ Owner Occupier, P&I)

New borrowers or refinancers from another lender get a discounted rate with this package loan.

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