Mortgage repayment calculator
What a loan costs per week, fortnight or month, and what the interest adds up to over the life of it.
How the repayment is worked out
The calculator uses the standard amortisation formula: the rate is divided across your repayment frequency, and the repayment is set so the loan reaches exactly zero at the end of the term. Early repayments are mostly interest; the balance shifts towards principal as the loan ages.
Why fortnightly repayments finish sooner
Twenty-six fortnights is thirteen months of monthly-sized halves, so paying half your monthly amount each fortnight quietly makes one extra month of repayments a year. Over a long loan that arithmetic removes years. The calculator shows the scheduled figure; ask your lender how they treat extra repayments before relying on it.
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