Work out repayments on any loan amount, rate and term, then see how they change at a higher rate and on interest only.
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For principal and interest (P&I), the calculator finds the repayment that clears the loan exactly by the end of the term, with interest charged monthly on the remaining balance.
Monthly repayment = L × i ÷ [1 − (1 + i)^−n], where L is the loan, i is the annual rate ÷ 12 and n is the number of months.
Total interest is the repayment × the number of months, minus the loan. An illustrative $600,000 over 30 years at 6% works out at about $3,597 a month and about $695,000 in interest.
Fortnightly is the monthly repayment × 12 ÷ 26, and weekly is × 12 ÷ 52. The yearly total matches monthly, so switching frequency shows no saving here.
The claim that fortnightly saves years assumes you pay half the monthly amount every fortnight. That adds up to 13 monthly repayments a year, and the saving comes from the extra repayment, not the frequency.
Interest only is the loan × rate ÷ 12: lower now, but the balance does not fall, and repayments rise when the period ends. Many people run investment splits interest only; our guide to interest-only expiry covers what happens next.
Many lenders assess a new loan at a rate above the one you will pay, to check you could cope if rates rose. APRA's mortgage serviceability buffer remained at 3 percentage points in its 28 May 2026 update, so the calculator adds 3 points to your rate.
In the example above, 9% lifts the repayment to about $4,828 a month, roughly $1,230 more. Treat it as a guide only: lenders also count income, expenses and other debts, and policies vary.
If the stress-tested repayment would strain your budget, debt recycling from equity may not suit yet. Drawing equity to invest adds new borrowing, and lenders assess it at the buffered rate too.
A loan structure that keeps private and investment debt apart also keeps each repayment clear.
Alex can check your loan, your equity and your borrowing capacity, and tell you what the lending side would look like.
Request a call with Alex →Only if they add up to more each year. Paying the monthly amount × 12 ÷ 26 each fortnight gives the same yearly total and a near-identical result. Paying half the monthly amount every fortnight works out to one extra monthly repayment a year, and that extra repayment is what shortens the loan.
It mirrors the serviceability buffer. APRA kept the mortgage serviceability buffer at 3 percentage points in its 28 May 2026 update, and many lenders assess new loans at a higher rate than the one you will pay. Seeing the higher repayment helps you judge whether your budget has room if rates rise.
Repayments are lower during the interest-only period because none of the balance is repaid. On an illustrative $600,000 at 6%, that is $3,000 a month against about $3,597 for P&I. Once the period ends, the full balance has to be repaid over a shorter remaining term, so repayments rise and total interest is higher.
Check your loan to value ratio and usable equity.
Read more → CALCULATORCompare keeping debts separate with rolling them into your home loan.
Read more → GUIDESplits, offsets and redraw features that matter when you recycle.
Read more →
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