Extra Repayment Calculator

We have created this extra repayment calculator to help you work out how much you can save by making extra repayments. You can save a lot by only making a small amount of extra repayments.

See our range of other helpful home loan calculators here.

Put two coffees into your mortgage every day. Many people buy a two coffees per day. This works out to be about $7/day or about $200 per month. If you have a $500,000 30 year home loan and put $200 per month into the home loan as extra repayments every month, you would cut around 4 years and 3 months off the life of the loan and over $77,000 in interest costs. Caution: nearly all variable rate loans can allow for extra repayments without penalty while many fixed rate loans don’t allow extra repayments. We can tell you what you can and can’t do with each loan product.

Imagine what you could do with the interest saved over the life of the loan. Banks make a lot of their money by charging you interest and you can see what effect it has for you (and the bank) if you make a small extra repayment into the home loan. In the example above, the $77,000 of saved interest costs means you could either retire a little earlier or at least retire more comfortably. At Orange Mortgage and Finance Brokers our goal is for you to pay off your primary residence as quickly as possible and making some extra repayments in to the mortgage is a simple way do do this.

For more help with calculating your numbers, try our offset calculator and stamp duty calculator pages.

Try the extra repayment calculator yourself to see how much you could save.