This repayment is an estimate only. The rate you actually pay depends on which of 50+ lenders fits your situation, and a small rate difference changes this number by hundreds per month.
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| Year | Balance | Principal paid | Interest paid |
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What Should You Do With Your Repayment Estimate?
First, stress test it. Do not just check whether the repayment fits your budget at today's rate; add a full percentage point and see if it still fits, because that is closer to how a lender will assess you. As a guide, each 0.25% of rate moves the repayment by roughly $16 a month per $100,000 borrowed on a 30-year principal and interest loan. If the number feels tight, a longer term or a different loan structure can change the monthly figure materially, and I can model those options for you before you apply. Everything above is an estimate only and subject to lender assessment.
Second, if you already have a loan and the repayment above is lower than what you currently pay, that gap is the cost of staying put. Run your actual rate through this calculator against a sharper one, then read my guide to refinancing and try the refinance savings calculator to see the lifetime difference. Buyers still working out a budget should start with how much you can borrow in 2026 before falling in love with a repayment figure.
How this calculator works
This calculator uses the standard amortisation (annuity) formula that Australian lenders use for principal and interest loans. Your annual interest rate is divided by 12 to get a monthly rate, and the repayment is the fixed monthly amount that fully repays the loan over the selected term. For interest-only repayments, the calculator multiplies the loan balance by the monthly rate, since no principal is repaid during an interest-only period.
Total interest is the difference between all repayments over the term and the original loan amount. The year-by-year table simulates each month of the loan, splitting every repayment into its principal and interest components as the balance falls. When you enter an extra monthly repayment, the calculator re-runs this month-by-month simulation to show how many years earlier the loan finishes and how much interest is saved.
Key assumptions used by the calculator:
- Principal and interest repayments use the standard amortisation formula with monthly compounding.
- Interest-only repayments equal the loan balance multiplied by the monthly interest rate.
- Fortnightly figures are the monthly repayment divided by 2, and weekly figures are the monthly repayment multiplied by 12 and divided by 52. These show the same annual total, not an accelerated repayment strategy.
- The interest rate is assumed to stay constant for the whole term.
- Fees, offset account balances, redraw, and rate changes are not included.
This is a general estimate only, not credit advice or a loan offer. Actual repayments depend on your lender's rate, fees, and loan structure.
Is Refinancing Worth It for You?
It comes down to three numbers: your balance, the rate gap, and the switching costs. Most Sydney refinances with a meaningful rate cut recover their costs within three to nine months. John runs the break-even maths for free before you commit to anything.
Repayment FAQ
Typical switching costs run from about $700 to $1,200, covering discharge fees, government registration and a new application. On a $600,000 loan, a 0.50% rate cut saves about $181 a month, so most Sydney refinances recover their costs within three to nine months.
Often, yes, on larger balances. A 0.25% cut on a $600,000 loan saves about $91 a month, roughly $1,095 a year, which typically repays switching costs inside a year. Below that, the case depends on your balance, remaining term and fees; John runs the break-even numbers for you for free.
Most refinances settle within two to four weeks from application. Fast-track digital discharges can be quicker; a slow discharging lender is the most common delay. John manages the whole process, including chasing your current bank.