Home Loan Repayment Calculator
See what a loan really costs per month — and over its whole life.
Indicative market rates as at 19/07/2026: variable 5.80%–6.20% · 1yr fixed ~5.75%. Actual rates depend on your circumstances.
Monthly Repayment
$3,555
- Total Interest
- $679,793
- Total Repaid
- $1,279,793
Estimate only — not a formal assessment or loan offer. Results use simplified assumptions; your actual position depends on your full circumstances. Speak to a TAG broker for a free, personalised assessment.
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Get It Checked FreeYour repayment depends on three things: how much you borrow, the interest rate, and the loan term. Small rate differences compound — half a percent on a $600,000 loan is roughly $2,900 a year.
The term matters too: a 25-year loan costs more per month than a 30-year one but saves years of interest. The right balance depends on your budget and goals — exactly what a broker helps you set.
How are home loan repayments calculated?
Repayments are calculated so the loan and all interest are paid off evenly over the term. The formula uses your balance, the monthly interest rate and the number of months. On $600,000 at 5.89% over 30 years, that's about $3,555 a month.
How can I lower my repayments?
Four levers: a sharper rate (compare lenders — this is the big one), a longer term (lower monthly cost but more total interest), an offset account working against the balance, or interest-only for a period. A broker models each against your situation for free.
General information and estimates only — not a formal assessment, loan offer or credit advice. Transact Holdings 1 Pty. Ltd., Australian Credit Licence 405647.