This Australian mortgage calculator estimates your monthly home loan repayment in AUD. Defaults reflect current RBA cash rate conditions and typical Big Four bank pricing.
Most Australian home loans run for 25–30 years, with 30 being the most common. Lenders offer variable rates (move with the market), fixed rates (typically 1–5 years), or split loans. The RBA cash rate, currently 4.10% as of April 2026, is the main influence on variable home loan rates. Many borrowers use offset accounts or redraw facilities to reduce interest while keeping access to savings.
| Product | Typical rate |
|---|---|
| Variable (owner-occupier, <60% LVR) | ~5.1–5.5% |
| Variable (owner-occupier, 80% LVR) | ~5.8–6.3% |
| 3-year fixed | ~5.5–6.0% |
| Average new mortgage | ~5.50% |
Non-bank and smaller lenders often beat Big Four pricing by 0.3–0.6% for well-qualified borrowers.
Loan-to-Value Ratio (LVR) is the loan as a share of the property value. Crossing the 80% threshold (i.e. having less than a 20% deposit) usually triggers Lenders Mortgage Insurance (LMI) — a one-off premium that can run into tens of thousands of dollars on a typical home, paid by you to insure the bank against your default. The lowest advertised rates are reserved for LVRs of 60% or less.
On top of your deposit and monthly repayment, plan for stamp duty (state-based, often 4–5% of the property price but with first-home-buyer concessions), conveyancing, building and pest inspections, strata or body corporate fees if buying an apartment, and council rates. Stamp duty alone on a typical Sydney or Melbourne home is often A$30,000–50,000+.
Borrowing A$700,000 at 5.85% over 30 years gives a monthly repayment of around A$4,125. The total interest over the full term is roughly A$785,000 — more than the loan itself. Making an extra A$200 a month would shorten the loan by about 4 years and save around A$140,000 in interest.
Banks assess based on income, expenses, deposit, and a serviceability buffer (currently 3% above the loan rate). Typical borrowing capacity is 5–7× annual income for owner-occupiers.
Fixed rates offer certainty for 1–5 years but limit extra repayments and offset use. Variable rates are flexible and historically tend to come out cheaper over long periods — but expose you to rate moves.
A linked transaction account where every dollar reduces the interest charged on your home loan. A$50,000 sitting in offset against a 5.85% loan saves about A$2,900 in interest per year, while remaining fully accessible.
Lenders Mortgage Insurance is a one-off premium charged when your deposit is below 20%. It can usually be added to the loan rather than paid upfront, but it adds tens of thousands to your total debt.
You're viewing the Australian version (A$, AUD). Other regional versions of this calculator: