Mortgage Calculator

Open Investment Tools → Mortgage & Borrowing, then choose Mortgage Calculator.

What it helps you answer

Use this calculator to estimate a regular mortgage repayment and understand how the loan balance and
total interest change over time.

Enter the property price, deposit amount or percentage, annual interest rate, loan term, repayment
frequency, and repayment type. After the first calculation, you can increase the displayed minimum
repayment to test regular extra repayments.

How the calculation works

The loan amount is the property price minus the deposit. Swish converts the annual interest rate into
the selected weekly, fortnightly, or monthly rate, then models each repayment across the loan term.
Principal-and-interest repayments use the standard amortised-loan formula. Interest-only repayments
start with the interest due for each period.

When you enter a repayment above the calculated minimum, Swish compares that schedule with the same
loan at the minimum repayment. The comparison assumes the entered rate and repayment continue for the
full projection.

What the results show

Review:

• the regular repayment
• the derived loan amount, deposit percentage, and LVR
• the number of repayments
• the total amount repaid
• total interest over the loan term
• the estimated payoff date
• the interest and time an extra repayment could save
• the standard and extra-repayment loan balances over time

A useful comparison

Start with your current loan details, calculate once, then add a small regular extra repayment. Compare
the new payoff time and total interest with the first result. Change one input at a time so it is clear
which change produced the difference.

Results are indicative. Lenders may calculate interest, fees, and payment timing differently. See
Using the calculators well and
Contacting an adviser.