Home-loan repayment calculator
Estimate the scheduled monthly repayment, total interest and the effect of an offset or extra monthly repayment.
Your repayment summary
The scheduled repayment is calculated on the full loan amount. The offset is modelled as reducing interest charged while the repayment stays unchanged. Actual lender calculations and account rules may differ.
How the estimate works
The scheduled repayment uses the standard principal-and-interest amortisation formula and assumes the rate remains unchanged for the full term. The offset balance is treated as a constant average amount reducing the balance on which interest is calculated. Extra repayments are added monthly.
Common questions
Why might the lender's repayment differ?
A lender may calculate interest daily, use a different repayment date or rounding method, include fees, or apply a different rate. Your actual repayment is the amount shown in the lender's loan documents.
Does an offset account reduce the required repayment?
Usually the scheduled repayment does not automatically fall just because money is held in an offset. Instead, less interest is charged, so more of the same payment reduces principal. Product rules vary.
Can I make unlimited extra repayments?
Variable-rate loans often allow additional repayments, while fixed-rate products commonly impose limits or break costs. Check the product terms before relying on an extra-repayment strategy.
Want to test the result against an actual loan scenario?
Speak with MRH Mortgage about the rate, fees, features, policy and structure that may apply to your circumstances.
