Extra Repayments Calculator
See how much time and interest you could save by paying a little extra on your home loan each month.
Estimated interest saved
$103,145
Ready to take the next step?
We can connect you with a licensed specialist from our network who can discuss options relevant to your circumstances.
How extra repayments can pay off your home loan faster
On a typical 30-year Australian mortgage, the majority of your early repayments go towards interest rather than paying down the principal. Adding a modest extra amount each month attacks the balance directly, which reduces the interest charged month after month — and that effect compounds over the life of the loan. Use this calculator to see the potential impact of paying a little more than your minimum repayment.
Practical tips for making extra repayments
- Start small and increase your extra repayment whenever your budget allows.
- Direct pay rises, tax refunds or bonuses straight onto the loan.
- Check whether your fixed-rate loan limits extra repayments before you commit.
- Keep an emergency buffer accessible rather than tying up every spare dollar.
- Review your interest rate regularly — a lower rate plus extra repayments is a powerful combination.
When you're ready, Asset Connect Australia can connect you with an independent home loan professional who may discuss repayment strategies. Provider eligibility, pricing and any costs should be confirmed directly.
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Guides from our blog that pair well with this calculator.
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The documents, numbers, and habits lenders look for. Tick these off before you submit a home loan application.
Frequently Asked Questions
This calculator provides estimates only, based on the figures you enter, and is intended as a general guide. It does not take your personal circumstances into account and is not financial advice, credit assistance or an offer of finance. Actual repayments, rates, fees and approval outcomes are determined by lenders and licensed professionals. Asset Connect Australia is a referral platform only — we can connect you with appropriately licensed professionals who can assess your circumstances.