Calculate your monthly mortgage repayments and total interest cost for any Australian home loan.
A home loan (mortgage) is the most common way Australians finance property purchases. The interest rate, loan term and repayment frequency all affect how much you pay. Most Australian home loans are variable rate, meaning the rate can change when the RBA adjusts the cash rate.
As of 2024, average variable home loan rates in Australia are around 6–7% p.a. Fixed rates offer certainty but may have break costs if you exit early.
💡 Tip: Making fortnightly repayments instead of monthly can save years off your loan and thousands in interest.