When is refinancing worth it?
Refinancing $600,000 from 6.75% to 6.10% saves $243 a month and pays back costs in 5 months. When switching is worth it, and when it isn't.
What will your home loan cost each month?
Change the numbers and your repayment updates instantly. Free Australian mortgage calculators, built on 2026-27 tax, stamp duty and lending rules.
Your repayment
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Then once the interest-only period ends.
- Total interest
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- Total repaid
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Show yearly repayment schedule
| Year | Principal paid | Interest paid | Balance |
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Rates last checked . See how we calculate.
Pick the question you need answered
- What will my repayments be? Weekly, fortnightly or monthly repayments, principal and interest or interest-only. Mortgage repayment calculator
- How much can I borrow? How much a lender may let you borrow, tested at your rate plus the 3% buffer. Borrowing power calculator
- How much stamp duty will I pay? Transfer duty for every state and territory, with first home buyer concessions. Stamp duty calculator
- How fast can I pay it off? Time and interest saved by paying more or keeping cash in an offset account. Extra repayment and offset calculator
- Should I refinance? Monthly saving, break-even point and interest saved by switching rates. Refinance calculator
- How much cash do I need to buy? Deposit, LVR, lenders mortgage insurance, stamp duty and the cash you need. LMI and upfront costs calculator
Quick answers
Worked out with our calculators at an example rate of 6.50% p.a. over 30 years, principal and interest. Your figures will differ.
- What are the repayments on a $500,000 home loan?
- About $3,160 a month, or $1,458 a fortnight. Over 30 years you would pay around $637,700 in interest. Try your own amount
- How much can I borrow on a $100,000 salary?
- Roughly $470,000 for a single applicant with $2,500 a month in living costs and no other debts. Lenders test you at your rate plus 3%, so 9.50% here. Check your borrowing power
- How much is stamp duty on a $750,000 home?
- For an owner-occupier buying an established home: $27,937 in NSW, $40,070 in Victoria and $19,600 in Queensland. First home buyers in NSW and the ACT pay nothing at this price. Calculate for your state
- How much does an extra $500 a month save?
- On a $600,000 loan, about $240,700 in interest, and the loan is paid off around 8 years sooner. Model extra repayments
- What does LMI cost with a 10% deposit?
- On a $750,000 purchase in NSW, our indicative estimate is about $14,000 including insurance stamp duty. Eligible first home buyers using the 5% Deposit Scheme pay no LMI. Estimate LMI and upfront costs
The numbers lenders use right now
| RBA cash rate | 4.60% | Set by the Reserve Bank. Variable home loan rates usually move with it within a few weeks. |
|---|---|---|
| Serviceability buffer | 3.00 points | APRA expects banks to test you at your rate plus 3 percentage points. |
| High debt-to-income limit | 6x | Banks can only write a limited share of new loans where total debt is 6 times income or more. |
| Minimum deposit without LMI | 5% | For eligible first home buyers under the 5% Deposit Scheme, with no income cap. Otherwise usually 20%. |
Latest guides
All guidesHow to ask your bank for a lower rate (with a script)
A 0.30% rate cut saves about $113 a month on a $600,000 loan. How to prepare, exactly what to say to your bank, and what to do if it says no.
Fixed or variable home loan in 2026?
Variable rates are cheaper at over 90% of lenders and all fixed rates are above 6%. When fixing pays off, with a two-year cost comparison.
Why you can rely on these numbers
Official sources
Stamp duty comes from each state revenue office. Tax rates come from the ATO. Lending settings come from APRA and the RBA.
Methods in the open
Every formula and assumption is written down, so you can check the working. How we calculate
No sign-up, no sales calls
Your numbers stay in your browser. We do not ask for your details to show a result.