How Long to Repay? Calculator

Rates and Fees verified correct on October 20th, 2016

Find out down to the month how long it’ll take to pay your home loan off.

This calculator takes your financial information and calculates how long it will take you to repay your home loan. All you have to do is input the required information and let the calculator do all of the work for you. It’s important to know how long it’ll take to pay off your home loan because it’ll give you an accurate timetable on your mortgage, allowing you to plan your budget and other investment strategies accordingly. This calculator even lets you compare different repayment sizes so you can figure out what kind of repayment schedule and rate works best for you.

All you have to do is enter in your current or desired loan amount, your current or predicted interest rate, your repayment amount and your repayment frequency. Once you enter in that information (the more accurate the better) you’ll get an instant result. The calculator will also show you how much of your repayment will go towards interest and how much of it will go toward your principal (the actual loan).

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Terms and conditions

Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a partly owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. © 2016 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786. Credit services for Aussie Select and Aussie Optimizer products are provided by AHL Investments Pty Ltd ACN 105 265 861 ("Aussie") and its appointed credit representatives, Australian Credit Licence 246786. Credit for Aussie Select products is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133, Australian Credit Licence 414133. Credit for Aussie Optimizer products is provided by Perpetual Ltd ACN 000 431 827.

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Aussie’s Mortgage Brokers can save you time and effort by helping you research, organise and apply for your home loan, at no cost to you. They compare hundreds of home loans to help find the right deal for you. Fill out the form on the left and an Aussie Mortgage Broker will meet you at a time of your choosing to discuss your needs and help you find the right loan.

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How to use the how long to repay calculator

In order to use the how long to repay calculator simply input the required information and let the calculator do the rest. Before opening up the how long to repay calculator make sure you have the necessary information handy. You’ll need your loan amount, the agreed upon interest rate, your current repayment amount and your current repayment frequency.

If you don’t have a current home loan and are using the calculator to get an idea of what your new mortgage will look like you can look at the different home loan review pages on to find this information out.

The how long to repay calculator will tell you how long you’ll take to repay your loan based on your repayments and the interest. It will also tell you what part of your repayment goes to your principal and what goes to the interest. The calculator also has an amortisation tab that will break down this information further to show you an exact makeup of your payment. Here’s the information you’ll need to enter:

  • Loan amount. This refers to the amount of money you originally borrowed from your lender or the amount you plan on borrowing.
  • Interest rate. The interest rate is what the bank or lender uses to calculate how much you need to pay back on top of what you owe. This is often calculated daily and is based on the balance of the loan.
  • Repayments. Repayments refer to how much you pay toward the loan on a regular basis.
  • Repayment frequency. This is how often you make those payments. This is usually on a weekly, fortnightly, or monthly basis but depends on the agreement you make with your lender.

Case study


To better understand how to use this calculator, take a look at this hypothetical situation. Donald is applying for a new home loan but is looking to see how long he’ll be carrying around this new debt. He consults a home loan calculator for help.

Donald sits down and gathers some information, including his desired loan amount, the interest rate that is listed for the loan he’s considering, his desired repayments and his preferred repayment frequency. He then inputs all of that information into the how long to repay calculator.

Donald is looking to borrow $250,000 at 6% p.a.. He plans to make $2,000 in repayments each month. Based on these numbers the home loan repayment calculator tells Donald that it will take him 16 years and five months to repay the loan. He will pay $143,311.72 in interest with his payments totalling $393,311.72.

Now Donald can better understand what he’ll be facing by choosing a home loan with these specific values in place. He can then choose to increase his repayments to shorten his loan if he doesn’t want to carry the loan for 16 or more years. He can also create a budget to help him better plan for his monthly repayments all thanks to the how long to repay calculator.

What will I need to use the this calculator?

All you need is your loan amount, the agreed upon interest rate, the amount of your repayments, and the frequency of your repayments. If you don’t have exact amounts you can estimate the amounts to get a general idea.

What should I expect from the calculator?

The calculator will tell you how long it will take to pay off your home loan based on the size and frequency of your repayments. The calculator will also tell you how much you’ll pay in interest and how much your total payments will be at the end of the loan. There’s also a breakdown of your loan available by year from the start of your mortgage through until the end of it.

How accurate is the calculator?

The calculator uses different equations to get your results. As long as your numbers are exact the results will be accurate, but bear in mind that because each borrower and loan product is different, this calculator should only be used to obtain an estimate.

Can I only use the calculator on the internet?

The home loan repayment calculator is available through the, but once you access it you can choose to open it up in a PDF format or print the calculator to use at your leisure.

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