Extra Home Loan Repayments Calculator

How much could you potentially save on your mortgage by boosting your regular payments? Try our extra repayments calculator to find out. Enter your current loan details (or proposed loan details if you don’t already have a mortgage) – then give your repayment amount a boost. You can also nominate when to start your increased repayment to take account of future pay rises or reduced expenses down the track.

Please note: The calculations do not take into account all fees and charges. The results provided by this calculator are an estimate only, and should not be relied on for the purpose of making a decision in relation to a loan. Interest rates and other costs can change over time, affecting the total cost of the loan. Consider whether you need financial advice from a qualified adviser. Interest rates and other costs can change over time, affecting the total cost of the loan. Check your mortgage contract to see whether you can change your repayments without incurring costs.

5-Star Rated Home Loans on Canstar’s database

If you’re in the market for a new home loan, the comparison table below features a snapshot of some of the outstanding value variable rate home loans on our database with links to lenders’ websites, sorted by comparison rate (lowest-highest) and then alphabetically by provider name. Products shown are principal and interest home loans available for a loan amount of $500K in NSW with an LVR of 80% of the property value and where the borrower is allow to make additional repayments. Choose between the First Home, Next Home, Investing and Refinance tabs to view results most relevant to you. Before committing to a particular home loan product, check upfront with your lender and read the applicable loan documentation to confirm whether extra repayments are permitted under the terms of the loan, whether any additional fees or charges may apply and whether the terms of the loan meet your needs and repayment capacity.*Comparison rate based on loan amount of $150,000 and a term of 25 years. Read the Comparison Rate Warning. Use Canstar’s home loan selector to view a wider range of home loan products.

What are extra repayments on a mortgage?

Extra repayments are made after the establishment of the loan, and are made at the same time as you continue to pay your regular, required monthly repayments.

Canstar’s Extra Repayments Calculator allows you to “try out” many different calculations about additional repayments you could make on a home loan.

Home loan calculators to help you work out your financial position

You may want to use Canstar’s home loan calculators when you’re doing your sums about how much you can afford to borrow in a home loan:

Written by TJ Ryan

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