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How do you calculate home loan repayments?

Explained simply, to calculate loan repayments, we take your loan amount, add the total estimated amount of interest we’ll charge over the life of the loan, and then divide that total into a monthly amount based on the length of your loan term.

How we calculate weekly and fortnight repayments

We calculate weekly and fortnightly repayments a little differently. For example, for fortnightly repayments, instead of multiplying monthly repayments by 12 and dividing by 26, we simply divide your monthly repayment amount by 2.

The fortnightly repayment amount is rounded up to the nearest dollar. This calculation method ensures you pay the full monthly figure over 2 fortnights. Over time, this means you'll pay off your loan faster with less interest than if the repayments were calculated by annualising the monthly figure.

For fixed and interest-only loans

For fixed or interest-only loan — or a fixed interest-only loan — this will need to be considered as your repayments will change when the fixed and/or interest-only period ends.

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Legal information about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

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Tiimely FAQs and Guides
At Tiimely Home we are not financial advisers and recommend seeking independent financial and legal advice to check how the information we provide aligns with your individual circumstances.