Home Loan Calculator
Work out your monthly home loan repayment, total interest, and full amortisation schedule. Free, instant, no signup.
Loan Details
Enter the annual interest rate (e.g. 6.5)
Enter your loan details on the left to see your mortgage breakdown.
About the Home Loan Calculator
A home loan is almost always the largest financial commitment a household ever takes on, so it pays to understand exactly what your repayments will look like before you sign. This home loan calculator turns four simple numbers โ property price, deposit, interest rate and loan term โ into the figures that actually matter: your monthly repayment, the total interest you will pay over the life of the loan, and a full year-by-year breakdown of how your balance falls.
The most revealing output is usually the total interest. On a long-term home loan, interest can rival or even exceed the amount you originally borrowed, which is why even a small change in rate or a slightly larger deposit can save tens of thousands over the full term. Use the calculator to test those trade-offs directly: raise your deposit, shorten the term, or shave half a percent off the rate and watch the lifetime cost respond instantly.
Everything runs in your browser โ no account, no email, and none of your figures ever leave your device. When you have a scenario you like, download a clean PDF summary to compare lenders or take to a broker.
Looking for more options? Open the full Mortgage Calculator โ itโs the same tool with every feature.
Frequently Asked Questions
How is a home loan repayment calculated?
Lenders use the standard amortising loan formula: the monthly repayment is fixed so that the loan reaches zero at the end of the term. Early payments are mostly interest on the outstanding balance, and as the balance falls a larger share of each payment goes to principal. This calculator applies that formula and shows the full schedule.
How much deposit do I need for a home loan?
It varies by country and lender, but a larger deposit lowers both your monthly repayment and the total interest, and often unlocks a better interest rate by reducing the lenderโs risk. Try entering different deposit amounts here to see the effect on your repayment and lifetime cost before you commit.
Should I choose a shorter or longer loan term?
A shorter term means higher monthly repayments but far less total interest, because you are borrowing the money for less time. A longer term lowers the monthly cost but increases what you pay overall. Compare both in the calculator to find a balance between an affordable monthly payment and a sensible total cost.
Understanding Home Loans
How home loan repayments are structured
A home loan is repaid through equal monthly instalments under a process called amortisation. Each payment is split between interest on the outstanding balance and repayment of the principal. Early in the term the balance is large, so most of each payment is interest; as the balance shrinks, more goes to principal and the loan pays down faster. This is why overpaying in the early years is so powerful โ it cuts the balance that all future interest is charged on.
What drives the total cost
Three levers determine how much a home loan really costs: the interest rate, the term, and the deposit. A higher rate raises every payment; a longer term lowers the monthly amount but adds years of interest; and a bigger deposit shrinks the amount borrowed and can unlock a better rate. Small changes compound over decades, so testing combinations in the calculator before you commit can be worth tens of thousands.
Fixed versus variable rates
Most home loans offer a fixed rate, which locks your repayment for a set period and protects you from rate rises, or a variable rate, which moves with the market and can fall as well as rise. Fixed gives certainty for budgeting; variable can be cheaper when rates are stable or falling. Whichever you model here, enter the rate you have actually been quoted to keep the projection realistic.