This mortgage calculator will provide transparency over both your payments per period as well as helping you visualize what your current principal to interest payment ratio is. An example is a property costing $500,000 with a $100,000 deposit, at 5.00% over 30 years, you will only break the principal to interest threshold in favour of principal in year 20. This means that for the first 20 years of a 30-year mortgage, the larger portion (by Dollar value) of your payment is servicing interest owed. By adding in even a small additional monthly payment this can be adjusted to not only be paid off faster but with less paid overall in interest.

Talking to a mortgage broker will allow you to negotiate lower interest rates with the bank or lending provider which will help lower both the amount paid per payback period as well as over the lifetime of the mortgage.

This calculator assumes that the loan term and loan interest rates are consistent across the entire duration of the loan.

This calculator assumes that all additional payments will be made with the same consistency across the entire duration of the loan.

This calculator does not adjust the values for inflation or for relative buying power.

In this calculator, there are 52.179 weeks per year on average [365.25/7] and therefore 26.089 fortnights per year (weeks * 2).

In this calculator, there are 4.348 weeks per month on average ([365.25/12]/7) and therefore 2.174 fortnights per month (weeks * 2).

In this calculator, all repayments and amounts saved are rounded to the nearest cent.

In this calculator, repayment periods are rounded to the nearest year with 1 decimal place.

This mortgage calculator is meant to be used as a guide only.