Mortgage Repayment Calculator Australia 2026 — Monthly & Fortnightly

How to use this calculator

1. Enter the amount you plan to borrow — for a house and land package this is the land plus build minus your deposit and any grant.
2. Enter the interest rate you have been quoted (or a conservative round number if you are still shopping).
3. Choose your loan term; 30 years is the Australian default, and 25 or 20 years saves substantial interest if repayments allow.
4. Read the results: monthly repayment, the fortnightly equivalent, total interest over the life of the loan, and the +1% stress figure.

Frequently asked questions

What formula does this calculator use?

Standard amortisation: the monthly repayment M = P × r(1+r)^n / ((1+r)^n − 1), where P is the loan, r the monthly interest rate, and n the number of months. It is the same formula lenders use for principal-and-interest repayments.

Does the result include council rates or insurance?

No — repayments cover principal and interest only. Budget separately for council rates (often $1,500–$3,000/yr), building and contents insurance, and strata or estate costs where applicable.

What is the +1% stress test for?

It shows your repayment if rates rise one percentage point — a common lender serviceability buffer. If the stressed figure strains your budget, consider borrowing less or fixing part of the loan.

Should I choose monthly or fortnightly repayments?

Fortnightly repayments (half the monthly amount every two weeks) equal one extra month's repayment per year, cutting years and thousands of dollars off a typical loan. The calculator shows both figures.

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