If you would like to find out how much you have left on your mortgage, our remaining balance calculator can help. Even if you don't already have a loan, this calculator can be used to give you an idea of how much you might have paid off any number of years into your loan term.
As the calculator shows, each repayment that you make on your mortgage consists of a portion of interest and interest. Home loans are structured so that you start paying a lot of interest in the beginning and only a little principal. It's only during the last years of repayments that you start reducing the principal significantly.
This is why any additional repayments could make a difference as it cuts into your principal. As long as you have financial flexibility with your bank then you could have more control over your home loan, and not your lender.
Find the right home loan for you and pay it off quicker
Compare the cheapest home loans to see if you could be getting a better deal elsewhere:
Rates last updated August 18th, 2017
Plan ahead more effectively by knowing your remaining balance
Want to know how much you've paid off, or how many years you have left on your mortgage? Our calculator will help you analyse your progress.
By taking into account your loan term, loan amount, whether you had a fixed rate and for how long, along with you ongoing rate and long you are into your loan term - you can work out the total amount you've repaid and the remaining balance.
Having this information is handy because you can find out if you've built any equity, which you can access to reinvest.
Speak to a home loan specialist today to discuss your options and eligibility.
Your lender will send you a statement, either electronically or by mail on a quarterly basis. These statements show you what your remaining balance is, the number of payments made and how much interest you've been charged.
If you would like to know your remaining balance right now you can go online to check your balance or give your lender a call.
An integral part to being able to pay for a mortgage as soon as possible is planning and calculation. Learn how to effectively calculate how long it will take to pay off your new or existing loan within.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.
The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.
We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.