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Home loan repayment calculator

Estimate your rate and monthly repayments with a Tiimely Own home loan.

Property usage
Rate type
Repayment type

Variable

Tiimely own

5.79%p.a.Interest rate

5.80%p.a.Comparison rate

Estimated monthly repayments

$3,692

Total loan repayments

$1,329,311

Total interest charged

$699,311

The estimates are for a Tiimely Own home loan. Rates are subject to LVR requirements, lending criteria and terms and conditions. See comparison rate warning below.

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Frequently asked questions

How do you calculate home loan repayments?

For a principal and interest home loan, repayments are calculated to repay the loan in full over your selected term. The calculation uses your loan amount, interest rate, loan term, and repayment frequency (monthly, fortnightly, or weekly). Each repayment includes interest (charged on the outstanding balance) and principal (the amount that reduces what you owe).

How are weekly and fortnight repayments calculated?

For fortnightly repayments, we calculate the repayment by dividing the monthly repayment by 2, then rounding up to the nearest dollar. Weekly repayments follow the same idea.

Because there are 26 fortnights (and 52 weeks) in a year, paying half your monthly repayment every fortnight can add up to more paid across the year than if your fortnightly amount was calculated by spreading your annual repayments evenly (monthly × 12 ÷ 26). Over time, that can help you repay your loan sooner and reduce total interest.

What about fixed rate or interest-only loans?

Repayments may increase when a fixed rate period ends or when an interest-only period ends and the loan switches to principal and interest.

How does a home loan repayment calculator work?

The calculator estimates repayments using the details you enter, including loan amount, loan type and term. It also shows estimated total repayments and interest over the life of the loan.

These figures are a guide only and may change if interest rates change, extra repayments are made, or loan features differ.

Does making extra home loan repayments pay off your loan faster?

Extra repayments reduce your loan balance sooner, which may reduce total interest and shorten your loan term.

With a Tiimely Own home loan, you can

  • Make unlimited additional repayments on variable rate home loans.
  • Make $20,000 additional repayments per term year on fixed rate home loans.
  • Access any additional repayments you make with free redraw.

How our home loan repayment calculator works

What are we calculating?

This home loan repayment calculator/mortgage repayment calculator is a guide only, and gives you an estimate of what your repayments will be with Tiimely home, based on the loan amount and loan term you entered, our current home loan interest rates and the loan variables you choose. You’ll still need at least a 10% deposit (and for deposits below 20% Lender’s Mortgage Insurance (LMI) is applicable). You’ll get a real assessment when you begin an application, and enter the specifics of the property, your loan type, personal details and your financials. This is not credit approval. Find out more about our eligibility criteria.

Important information about rates
*Tiimely Own products are subject to loan-to-value ratio (LVR) requirements, eligibility and credit criteria and terms and conditions. Rates apply to new Tiimely Home customers only and are subject to change without notice.

**The rates shown for products available from panel lenders via Tiimely Home brokers are current based on information from panel lenders and are subject to change without notice. The home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product and the product may not include all the features relevant to you. All applications are subject to lender assessment and approval, and eligibility requirements and terms and conditions apply.

^The comparison rates displayed are calculated for a loan of $150,000 over 25 years. If a comparison rate relates to a Tiimely Own loan with a fixed interest rate, the comparison rate has been calculated on the basis that our current applicable variable rate will apply at the end of the fixed rate period. If a comparison rate relates to an interest only loan with a fixed rate, the comparison rate has been calculated on the basis that the interest only period is the same duration as the fixed rate period. If a comparison rate relates to an interest only loan with a variable interest rate, the comparison rate has been calculated on the basis that the interest only period is 5 years.

WARNING: The comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. All interest rates are subject to change without notice.

Other important information
+Tiimely Home is known for its fast approvals for Tiimely Own products and responsive service, powered by our technology and supported by our team of experts. Application and approval times are estimates only and not guaranteed. Turnaround times are dependent on individual circumstances. Applications for a Tiimely Own loan may require an assessor to obtain more information. Assessment times for home loan applications made via Tiimely Home brokers are dependent on individual panel lenders.

The information provided does not constitute an offer of credit and does not take into account your objectives, financial situation or individual circumstances. We recommend seeking independent financial, taxation and legal advice to check how the information provided aligns with your individual circumstances.

Tiimely Home receives commissions from Tiimely Own loans and, where customers apply for a loan with the assistance of a Tiimely Home broker, from loans settled with panel lenders. Tiimely Home brokers do not receive individual commissions. More information about the credit services provided by Tiimely Home is available in the Tiimely Home Credit Guide (PDF) and Tiimely Home Broker Credit Guide (PDF).