Mortgage brokers in Norwest, helping the Hills District and Sydney
Free mortgage repayment calculator
Calculate your monthly loan repayments and see how much interest you'll pay over the life of your loan. Perfect for planning your budget and comparing different loan options.
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Updated November 2026
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Loan repayments
Last updated: November 2026
See what your monthly repayments would be for a given loan amount, interest rate and term. You can compare principal-and-interest vs interest-only, and see how much interest you'll pay over the life of the loan. Useful for budgeting, comparing loan sizes, or testing different rate scenarios.
Actual rates and repayments depend on the lender, your situation and the product you choose. For repayments based on your real numbers and current offers, use the form at the top of this page for a free strategy call.
Calculate your monthly loan repayments and see how much interest you'll pay over the life of your loan. Perfect for planning your budget and comparing different loan options.
Your estimate
Monthly repayment
$3,597
360 repayments over 30 years at 6% a year.
| Year | Balance owing |
|---|---|
| 1 | $592,632 |
| 2 | $584,809 |
| 3 | $576,504 |
| 4 | $567,687 |
| 5 | $558,326 |
| 6 | $548,388 |
| 7 | $537,836 |
| 8 | $526,634 |
| 9 | $514,741 |
| 10 | $502,114 |
| 11 | $488,709 |
| 12 | $474,477 |
| 13 | $459,367 |
| 14 | $443,325 |
| 15 | $426,293 |
| 16 | $408,211 |
| 17 | $389,014 |
| 18 | $368,633 |
| 19 | $346,994 |
| 20 | $324,022 |
| 21 | $299,632 |
| 22 | $273,738 |
| 23 | $246,246 |
| 24 | $217,060 |
| 25 | $186,073 |
| 26 | $153,174 |
| 27 | $118,247 |
| 28 | $81,165 |
| 29 | $41,797 |
| 30 | $0 |
Balance at the end of each year, before any change in rate.
Assumes the rate stays the same for the whole loan, repayments at the end of each period, and no fees. Extra repayments assume your lender keeps your repayment the same so the loan finishes early.
Figures last checked .
This is an estimate, not financial advice. Results are a guide only. Speak to a broker for accurate figures based on your situation.
Free, no obligation. Your numbers go with your enquiry.
5.0360+ Google reviews
Got your repayment?
The calculator uses the rate you type in. Sumit compares real offers across our lender panel, whether you are refinancing to a better deal or buying your first home, and shows you the repayment that goes with each. Free, no obligation. We generally respond within an hour.
5.0 from 360+ Google reviewsNo obligation and no credit check.
Quick answer
Your repayment is set by three things: the loan amount, the interest rate and the term. On a principal and interest loan the formula works out one fixed payment that clears the debt by the last payment. At an assumed 6% rate, $600,000 over 30 years costs $3,597 a month. Interest-only on the same loan is $3,000 a month, because nothing comes off the balance.
Using the tool
This loan repayment calculator estimates your regular repayments based on the loan amount, interest rate, repayment frequency and loan term you enter. It's useful whether you're comparing different home loan offers, testing rate rises, or planning your budget before you buy or refinance in Sydney, the Hills District or anywhere in NSW.
The calculator assumes a standard principal-and-interest home loan unless you choose interest-only. In real life, lenders may have minimum repayments, rate discounts, package fees and different repayment options. A mortgage broker can help you compare banks and non-bank lenders side by side, not just on interest rate, but on total cost over time.
Step 1
Enter the loan amount, the rate and the term, then pick how often you pay.
Step 2
Run the same loan at a higher rate to see what a rise would cost you each month.
Step 3
A shorter term lifts the repayment but cuts the total interest you pay.
Step 4
Switch the repayment type to see the gap between the two structures.
Loan structure
With a principal and interest (P&I) loan, each repayment covers both the interest charged and a portion of the loan balance. Over time, the balance reduces, less interest accrues, and more of each repayment chips away at the debt. P&I is the default structure for most owner-occupier home loans in Australia and results in the lowest total cost over the life of the loan.
With an interest-only (IO) loan, repayments only cover the interest, the loan balance stays the same throughout the IO period (typically 1 to 5 years). Monthly repayments are lower during this phase, but when the IO period ends, repayments jump to cover both principal and interest over a shorter remaining term. IO loans are commonly used by property investors for cash flow reasons, as the interest may be tax-deductible. Most lenders charge a slightly higher rate for IO loans.
| Principal & interest | Interest-only (5 years) | |
|---|---|---|
| Each repayment covers | Interest and some of the balance | Interest only |
| Balance during the period | Falls every month | Stays the same |
| Repayment, years 1 to 5 | $3,597 | $3,000 |
| Repayment from year 6 | $3,597 | $3,866 |
| Total interest | $695,029 | $739,743 |
| Often used by | Owner-occupiers | Investors managing cash flow |
Illustration at an assumed rate, not a current market rate. Lenders often charge a higher rate for interest-only.
Use the calculator above to compare both structures with your loan amount and rate to see the repayment difference and total interest cost.
Buying an investment property? Our investment loan brokers set up interest-only and P&I splits around your cash flow and tax.
Worked examples
One loan, four ways. These illustrate the formula at an assumed 6% rate; they are not current rates or client figures.
A $600,000 loan over 30 years, paid monthly, at an assumed 6% p.a.
Every repayment pays the interest and some of the balance, so the debt falls from the first month.
The same loan with a 5 year interest-only period, then principal and interest over the last 25 years.
Lower repayments now, a jump of $866 a month later, and $44,713 more interest overall.
The principal and interest loan with $4,097 paid every month instead of $3,597.
The extra money goes straight off the balance, so every later month charges interest on less.
The same loan if the rate moves from an assumed 6% to 7% with 30 years still to run.
This is why lenders test your budget at a higher rate before they approve you.
Want these numbers on your own loan, at a rate a lender will actually offer you? We run them on real offers for free.
Pay it off faster
Every dollar you pay above the minimum repayment directly reduces your loan balance. Because interest on a home loan is calculated on the outstanding balance, a lower balance means less interest accrues each month, and that saving compounds over the remaining loan term.
On a $600,000 loan at 6% over 30 years, the minimum monthly repayment is around $3,597. If you add just $500 per month on top of that, you could save over $120,000 in total interest and pay off the loan more than 7 years early. The earlier you start making extra repayments, the greater the effect, because the interest saving in year 2 also reduces the interest in years 3, 4, 5 and beyond.
Plan for a rise
On a variable rate loan, your repayments change each time your lender adjusts the rate, usually following RBA cash rate decisions. A 0.5% rate rise on a $600,000 loan adds approximately $180 to $200 per month to minimum repayments. A full 1% increase adds around $360 to $400 per month.
This is why APRA requires lenders to stress-test your repayments at your contract rate plus a 3% serviceability buffer before approving a loan. The buffer is designed to ensure borrowers can absorb rate increases without defaulting. If you were approved at 6%, you were tested at 9%.
If you're concerned about rate volatility, a strategy call with a broker can help you weigh fixed vs variable options and find a loan structure that fits your risk tolerance and financial goals. Our guide to fixed vs variable home loans sets out the trade-offs.
Serviceability buffer: APRA, May 2026.
Free review. No obligation.
Lower your repayments
If the repayments shown are higher than you're comfortable with, there may be ways to bring them down or make them more manageable:
We compare your loan with our lender panel through our refinancing service.
Lower repayments now, more interest over the life of the loan.
Try the offset calculator to see the saving.
One repayment, but check the total cost over the longer term.
The right strategy depends on your goals, risk tolerance and timeframe. We can walk you through different repayment scenarios, including what happens if rates move, and help you choose a structure that suits your situation.
Before you switch lenders to chase the number above, check what the move costs in discharge fees, new lender charges and government registration. Our guide to the cost of refinancing a home loan in 2026 lists each one.
Pair this with our other tools or dive into our Home Loans overview and Refinancing guide to see how different products and structures can change your repayments.
5.0 from 360+ Google reviewsLive in the Hills? Our Norwest office reviews loans for homeowners from Castle Hill to Kellyville every week, so you can sit down with a mortgage broker in the Hills District and see your repayments on real offers.
Real loans, real figures
Three recent loans from our files, with the figures as they happened.
The clients owned their home, valued at about $2.35M, with a loan of around $735K.
Reviewed fixed, variable and split options across our lender panel.
+2 more in the full story
A known repayment for the next two years, which made the household budget easy to plan.
+2 more in the full story
The situation
The clients owned their home, valued at about $2.35M, with a loan of around $735K. With rates rising through 2026 they wanted to stop guessing what their repayments would be from one month to the next.
What we did
The result
Rate shown is the rate this client received in 2026. Rates change often and depend on your circumstances, so yours may differ.
The clients owned their home, valued at about $1.85M, with two existing NAB loan splits totalling around $1.006M.
Checked whether a full refinance would actually leave them better off. It would not.
+2 more in the full story
Access to their equity without disturbing loans that were already working for them.
+2 more in the full story
The situation
The clients owned their home, valued at about $1.85M, with two existing NAB loan splits totalling around $1.006M. They wanted to fund non-structural renovations and upgrades and assumed they would need to refinance everything to do it.
What we did
The result
A self-employed couple had an owner-occupied loan of $935K and an investment loan of $665K with a non-bank lender.
Once their tax returns were finalised and showed enough income, refinanced both loans to a major bank on full doc pricing.
+3 more in the full story
Much lower rates across $1.6M of home and investment lending.
+2 more in the full story
The situation
A self-employed couple had an owner-occupied loan of $935K and an investment loan of $665K with a non-bank lender. Another broker had set them up on low doc loans because their tax returns were not ready at the time, so both loans were on high rates.
What we did
The result
The interest only change was made on the advice of the clients and their accountant. RyRo does not give tax advice. Speak to your accountant about negative gearing.
Cars, utes and work vehicles
You can run a car loan through the calculator above: enter the amount, the rate you have been quoted and the term. Three things change the answer.
Car loans run over shorter terms than home loans, so enter the term in years exactly as quoted.
A balloon (residual) payment lowers each repayment but leaves a lump sum to pay at the end. Ask for a quote that shows it.
New, used, electric or a ute for work: the lender, the rate and the term all change the repayment.
Car finance is arranged by RyRo Asset Finance, where Rohan Joshi compares a panel of car lenders for you. See car loans with RyRo Asset Finance.
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
Rated by refinancers
Lower repayments, less paperwork and a better deal. Word for word from Google.
5.0
From 360+ Google reviews
Sumit Financial
5 years ago on Google
We went through refinance with Sumit and were quite nervous about the whole process. Sumit made the whole changeover from our current bank very easy and smooth for us by providing minimum paper work We are in a far better financial position and after borrowing for the new pool our loan repayments dropped by $190 a week !! So I can not thank Sumit enough for the excellent solution he has provided us and has put us in a strong financial position. Thanks Sumit , kids are loving the new pool !!
Gurbaksh Dhillon
2 years ago on Google
Sumit and his team are exceptionally knowledgeable about the mortgage process. They secured an excellent refinancing deal for me with minimal documentation required, making the submission process straightforward and hassle-free. Every team member was professional, courteous, and approachable. I highly recommend their services.
Sanjay Wadhwani
2 years ago on Google
Sumit and his teams were absolutely amazing throughout the whole process of refinancing our house and got us a best deal from one of the top 4 banks. Professionals who listen to customers needs with clear communication and sound advice. Highly recommend Sumit!
Krish Gopal
5 years ago on Google
We have consulted with RyRo Loan Centre for 2 refinancing packages and on both occasions Sumit has ensured that our needs were met far beyond expectations. Sumit has exceptional knowledge in the field and makes the process very simple and efficient.
FAQ
Monthly figures, interest-only, extra repayments, rate rises and refinancing, answered in plain English.
9 answers in 3 topics
Keep planning
Your repayment is one number. These tools and guides cover the rest.
Buying your first home? Sumit works out what you can borrow and what the repayments will feel like each month.
Free strategy call
We generally respond within an hour. Prefer to pick a time? Book your strategy call online.
Sumit Joshi JP
Principal broker, Credit Rep 446824
More videos from Sumit
“Sumit has been amazing through the whole process of refinancing our home loan. So professional and friendly. I highly recommend him to anyone who is looking for a mortgage broker!”
Sumit Joshi JP, Credit Rep 446824. AFG Award Winner 2013 to 2019 and AFG Excellence Awards finalist 2022 to 2026. Calculator results are estimates. Your rate and repayments depend on the lender, the product and your situation.
