Mortgage Repayment Calculator

Understanding the impact of your repayment term on your mortgage is crucial, as it can significantly affect the total amount you pay back over time. Our user-friendly calculator not only determines your monthly mortgage payments based on your chosen repayment term but also highlights the differences in repayment amounts when altering the length of the mortgage term. This invaluable insight allows you to explore various scenarios, helping you choose the most suitable repayment strategy for your situation.

Reevaluating your mortgage repayments is essential, as it can lead to substantial savings over the life of the mortgage. By opting for a shorter term, you might face higher monthly payments in the short term, but ultimately, you may pay less overall. For instance, repaying your mortgage over a five-year term results in paying back approximately 1.17 times the value of your mortgage, whereas a 30-year term would typically cost you 2.28 times the mortgage value. To take advantage of this indispensable calculator, simply adjust the light blue variables and click 'update.' Start exploring your mortgage repayment options today and unlock the potential to save thousands of dollars over time.

Enter your information into the calculator below, and push Calculate.

Mortgage Details
Buying price of property
$
Down payment/deposit
$
Mortgage (automatic)
Mortgage rate %
Term in years
Repayment frequency
Mortgage Cost Totals
Cost Total   Amount
After 5 years
Per month
Per year  
Total Costs of Mortgage At Different Terms
Term Period Changed: Amount
To 5 years
To 10 years
To 15 years
To 20 years
To 25 years
To 30 years
Mortgage Repayment Summary
The mortgage monthly cost
Lifetime cost
Over payment ratio
Changing Term
Monthly Cost
To 5 years
To 10 years
To 15 years
To 20 years
To 25 years
To 30 years
Interest paid in lifetime
How Much Can You Save By Changing Term?
Mortgage term: Saving
To 5 years
To 10 years
To 15 years
To 20 years
To 25 years
To 30 years

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