Repayment calculator
What would this loan actually cost each month?
Enter a loan amount, an example interest rate and a term to see the estimated monthly repayment, the total you would repay, and the total interest over the life of the loan.
This is an example rate you enter, not a rate LoanTorq or any lender is offering you.
Monthly repayment
$2,998/mo
Total repaid over the term
$1,079,191
Total interest paid
$579,191
Over 30 yrs
How this works
This calculator uses the standard principal and interest formula lenders use for a loan that is fully repaid in equal monthly instalments over the term. It assumes the rate stays the same for the whole term, which is not how most home loans actually work; rates move, and most people review or refinance well before the end of a 30-year term.
It does not include lender fees, lenders mortgage insurance, offset or redraw behaviour, or any rate changes over time. It is a simple starting estimate, not a loan comparison or a repayment schedule from a lender.
General information only, illustrative only. This calculator is not a quote, a pre-approval or a form of credit assistance. The numbers you enter are examples; actual repayments, rates and fees depend on the lender, its current policy and your individual circumstances. Speak with David for figures specific to you.
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