Calculate repayments, total interest, and savings from fortnightly payments
Use this calculator to estimate your monthly, fortnightly, or weekly mortgage repayments and see the total interest you'll pay over the life of your loan. Switching from monthly to fortnightly repayments is one of the most effective ways to reduce interest and pay off your loan years earlier.
Last updated: March 2026
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Yes. Permanent residents can generally access the same home loans as Australian citizens. Temporary visa holders may also be eligible, though lenders may require a larger deposit (typically 20-30%) and some require Foreign Investment Review Board (FIRB) approval. Conditions vary by lender.
Fortnightly payments save significant interest because you effectively make 13 monthly payments per year instead of 12. On a $600,000 loan at 6.5% over 30 years, switching to fortnightly payments saves over $60,000 in interest and cuts about 4 years off the loan.
Home loan interest rates in Australia vary by lender and loan type. As of early 2026, variable rates for owner-occupiers are broadly in the 5.5%-7% range. Check with individual lenders or comparison sites for current rates, as this changes frequently.
Lenders typically limit total debt repayments to 30-35% of gross income. As a rough guide, most lenders will lend approximately 5-6 times your annual gross income, subject to other debts, expenses, and creditworthiness. Use a borrowing capacity calculator alongside this repayment calculator.