Mortgage Repayment Calculator

Weekly, fortnightly, or monthly repayments — add extra repayments to see time and interest saved.

Repayment / period

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Total paid

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Total interest

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Number of payments

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With extra repayments: total paid

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With extra: total interest

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Time saved

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Interest saved

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Standard amortisation formula: PMT = P × r / (1 − (1 + r)⁻ⁿ) where r is periodic rate and n is number of payments.

Assume: A2 = Amount, B2 = Annual rate %, C2 = Term (years). Monthly payments:

=PMT(B2/12, C2*12, -A2)

Monthly repayment using PMT.

=PMT(B2/12, C2*12, -A2) * (C2*12)

Total paid = PMT × number of payments; Total interest = Total paid − Amount.

For weekly/fortnightly, replace /12 with /52 or /26, and *12 with *52 or *26. Extra repayments require an amortisation table.

Extra repayments are applied each period to reduce principal, shortening the loan and lowering total interest.
Assumes principal & interest (not interest-only). Fees/taxes not included.