Property & Home · Extra repayments
Home Loan Repayment Calculator — Pay it off sooner.
See how a little extra on each repayment slashes years and interest off your home loan.
What you enter
- Loan balance
- Interest rate
- Loan term
- Repayment frequency
- Extra per repayment
How this is calculated
We amortise your loan twice — once with the standard repayment for your term, and once with your extra amount added to every repayment. Because the contracted payment already covers that period's interest, every extra dollar goes straight to principal, which shrinks the balance faster and reduces the interest charged in every later period. The gap between the two runs is your interest and time saved.
Common questions
Why does a small extra repayment save so much?
Interest compounds on the outstanding balance for decades. An extra $200/month early in a 30-year loan removes principal that would otherwise accrue interest for 25+ years — the saving is the accumulated interest on every one of those dollars.
Is it better to pay extra or use an offset account?
Mathematically they're identical at the same rate — both reduce the balance interest is charged on. Offset keeps the money accessible; extra repayments may need redraw. The Mortgage Optimiser models both together.
Can every loan take extra repayments?
Variable loans generally allow unlimited extras. Fixed-rate loans usually cap them (often $10,000–$30,000 a year) and can charge break costs beyond that — check your loan terms.
How does it rank?
Once you have your result, see how your number compares against your demographic with our full money rank — by age, sex, state and household composition.
Methodology & data
PRINCIPAL & INTEREST · INDICATIVE. Australian context, FY 2026–27 tax brackets by default (15% lowest marginal rate from 1 July 2026) with a financial-year selector on tax calculators. Calculations are indicative and based on simplified public models — not personal financial, tax or legal advice. See the full disclaimer.
Primary data sources
- Australian Taxation Office — Taxation Statistics — Individuals Tables 3A & 4A (income by age, sex & state) (2023–24)
- Australian Bureau of Statistics — Household Income and Wealth, Australia — net worth by age & net-worth quintiles (2019–20)
- Australian Taxation Office — Taxation Statistics — Individuals Table 22 (super balance by age) & Table 23A (age × sex) (2023–24)
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