The Home Loan Repayments calculator will estimate what your weekly, fortnightly or monthly home loan repayments will be.

*Results using this calculator are estimates only.

Blackk Mortgage Brokers

What’s your loan repayment?

Are you considering taking out a home loan in Queensland? One of the most important factors to consider is your loan repayment amount.

Our Home Loan Repayments Calculator QLD is a powerful tool that can help you estimate your monthly repayments based on your loan amount, interest rate, and loan term.

Whether you’re a first-time homebuyer or looking to refinance your existing mortgage, this calculator can provide valuable insights to help you make informed decisions.

Want advice from an experience Brisbane Mortgage Broker or Gold Coast Mortgage Broker, then please book a free call with me.

How To Estimate Loan Repayments

Using our Home Loan Repayments Calculator QLD is simple and straightforward. Here’s a step-by-step guide:

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1. Choose your loan type

The  default I recommend you use is “variable with offset” which will give you a general idea.

If you are looking at fixing your interest rate, then choose a time period to fix for, from 1 to 5 years (the options usually offered by lenders). This means the repayments will be fixed each week / month for the term you choose.

Be aware that once the fixed rate period is over, your loan will automatically default onto the variable rate, so make sure you understand what that is.

2. Select your interest rate

I recommend you leave this at the rate that is set as the default.

If you want to see what will happen to your loan repayments after one or two rate rises, then add another 0.5%.

3. Choose your repayment frequency

I always recommend you line this up with your pay frequency. 

I think that weekly is the better alternative in general as you are chipping away at your loan balance in smaller chunks rather than one large monthly repayment,  which can leave you short of cash until you are paid again.

4. Select repayment type

Leave this on ‘Principle and Interest” as the default, which means you are repaying some of the actual loan balance each month, plus the interest back to the bank.

‘’Interest Only” is usually an option for construction loans or investment loans.

5. Confirm the Loan term

This means the amount of time you have to repay your loan in full.

The default of 30 years is the usual time banks will lend over. 

The exception is if you are over 45, then the bank may only offer you a reduced loan term. 

Generally the longer the loan term, the lower your repayments as they are spread over longer. 

We always recommend paying off more each month than the minimum monthly repayment.

6. Click "Calculate"

Once you’ve entered all the required information, click the “Calculate” button to generate your estimated loan  repayment amount.

7. What Your Home Loan Repayment Results Mean

After using the Home Loan Repayments Calculator for QLD, you’ll see a breakdown of your estimated repayments. This includes the principal and interest components of your repayments and the total amount you’ll pay over the life of the loan.

We help you keep your home loan repayments down.

Every year we review your home loan and ask the lender for a lower rate, so you don’t have too.

Blackk Mortgage Brokers

Home Loan Repayments Calculator

5 Interest Rate Tips

  1. You may not be eligible for the lowest rate – the rate you get will depend on your personal financial situation and meeting the lenders requirements around deposit / equity, income, debts, expenses and credit score.
  2. Be aware of honeymoon rates – Banks will often advertise a low variable interest rate to attract you then within the first year that rate will have risen again.
  3. Most people pay their home loan off twice – over the 30 year term, they pay off the principle and about the same amount in interest.
  4. Check if refinancing will actually save  you money-  There are costs associated with refinancing that will eat away at the savings you are trying to make so make sure you have an experienced  refinance broker review it for you. 
  5. Might be better to just ask your lender for a lower rate – You may find that by calling up your lending and asking for a better rate, they may just give you it if they want to keep you as a customer. That way you keep your savings without having to go through the full process and cost of changing banks.

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