Home Loan Calculators
Free Mortgage Calculators & Personalised Home Loan Support in Wollongong
At Direct Mortgages Wollongong, we’re proud to be the Illawarra’s trusted mortgage expert. Whether you're a first home buyer, investor or looking to refinance, our tools and personalised guidance help you understand your options with clarity and confidence.
Use our calculators to explore:
How much will my mortgage repayments be?
How much can I borrow?
How can I repay my home loan sooner?
How Much Will My Mortgage Repayments Be?
Understanding your monthly, fortnightly or weekly repayments is essential before taking out a home loan. Your repayments depend on several key factors:
Loan amount
Loan term, typically 25 to 30 years
Interest rate, fixed or variable
Repayment type, such as principal and interest or interest-only
Repayment frequency, such as monthly, fortnightly or weekly
Why this matters:
Knowing your repayments upfront helps you budget properly and avoid future financial stress. It also allows you to compare lenders with greater confidence and understand the potential impact of interest rate changes.
Tip: Switching from monthly to fortnightly repayments can help reduce interest and pay off your loan faster, even without increasing your annual repayment total.
How Can I Repay My Home Loan Sooner?
Paying off your mortgage faster can significantly reduce the total interest paid over the life of your loan. Even small changes to your repayment structure can make a meaningful impact. You can explore strategies like:
Making extra repayments, either as lump sums or regular top-ups
Using an offset account or redraw facility
Increasing your repayment frequency to fortnightly or weekly
Choosing a shorter loan term, such as 25 instead of 30 years
Refinancing to a lower interest rate or a more flexible product
Use the calculator to test different repayment strategies and see how much faster you could own your home outright.
How Much Can I Borrow?
Before you begin house hunting or applying for pre-approval, it's important to understand your borrowing capacity. This will depend on:
Your income and regular expenses
Employment type and stability
Existing liabilities, such as credit cards or personal loans
Deposit size and available equity
Lender policy and current interest rates
Online calculators provide a general estimate, but borrowing power can vary significantly between lenders. This is especially true if you're self-employed, have dependents, or receive income from government payments.
For a tailored borrowing strategy, speak with us directly. We’ll assess your capacity across multiple lenders to find the best fit for your situation and long-term goals.
Use the Free Mortgage Calculator
Ready to explore your loan options in more detail?
We recommend using the official Mortgage Calculator from MoneySmart, a trusted and independent resource provided by the Australian Government.
Access the calculator to estimate:
Your home loan repayments
The total interest payable over the life of your loan
Potential savings from making extra repayments
Time saved by changing your repayment frequency
Access the calculator here:
Home Loan Calculator
Let’s Make Sense of the Numbers
Calculators are a great way to start, but they can’t replace personalised advice. If you want support tailored to your unique situation, goals and lifestyle, speak with your local expert today.
Call Julius Abraham on 0410 482 035
Servicing Wollongong and the Illawarra region
Support for all loan types including first homes, refinancing, construction and investment loans
Direct Mortgages Wollongong – Simplifying Home Loans
Trusted. Local. Personal.