Buying guide

Mortgage calculator

How much will your mortgage really cost? Let's crunch the numbers.

AI summary

Understand your home ownership costs with our mortgage calculator. Your monthly repayments are based on the loan amount, interest rate, and mortgage term.

Choose between predictable fixed rates or variable floating rates. A longer term lowers monthly payments but increases total interest paid over time. A larger down payment, like a 20% deposit, reduces your loan size and monthly costs, making your mortgage more manageable and helping you avoid extra fees.

“How much will a home actually cost me every month?”

If this question is standing in the way of you buying your dream home, welcome to the club. It can feel a bit like trying to solve a Rubik's Cube blindfolded. That's why we've simplified things — with just a few clicks on our mortgage calculator, you’ll know exactly what to expect each month.

See listings within your budget.

FAQs: Mortgage payments, simplified

We've asked mortgage brokers to help with the most common questions — here's what they had to say:

1. How is my mortgage repayment calculated?

Your monthly payment depends on three things: the loan amount, interest rate, and mortgage term. As one broker puts it: “It’s about balancing how much you borrow with how long you want to repay.” Use the calculator to experiment with different scenarios.

See our 15 tips for getting a mortgage.

2. What factors affect my monthly mortgage repayments?

Your rate type (fixed or floating), loan size, and deposit size all impact your payment. Even tiny interest rate changes can shift your numbers.

Are you a first home buyer? Learn more about home loans here.

3. Can I adjust my mortgage term to lower my payments?

Yes! Spreading repayments over 30 years lowers the monthly amount, but you’ll pay more interest over time. On the other hand, shorter terms mean higher payments but less interest overall.

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4. What's the difference between fixed and floating rates?

With a fixed rate, you lock in one amount for a set time — predictable and stable. Floating rates can fluctuate with the market, meaning your payments may go up or down.

5. How does a larger deposit affect my repayments?

“The bigger the deposit, the smaller the loan,” says one broker. A 20% deposit not only reduces your monthly payment but also helps you avoid additional costs like lender’s mortgage insurance.

With the right tools — and a clear view of your mortgage repayments — you’re already one step closer to that front door. So go ahead, play with the calculator, adjust your numbers, and explore what’s possible.