Refinance My Mortgage Fortnightly Repayment Calculator
See how switching from monthly to fortnightly repayments could save you money. Use our Fortnightly Repayment Calculator to compare schedules and reduce your mortgage faster.
'Calculator results are estimates only and not quotes. Actual quotes will be provided by licensed brokers after you submit an enquiry.'
How to use our Fortnightly Repayment Calculator
Our Fortnightly Repayment Calculator helps you compare monthly vs fortnightly home loan repayments, so you can estimate whether paying more frequently could reduce interest and shorten your mortgage term. Many borrowers choose fortnightly repayments to align with pay cycles and to potentially repay principal sooner, which can lower interest over time.
This calculator is a general information tool only. It provides estimates and does not consider your objectives, financial situation or needs. Results are not a quote, and your lender’s actual repayment method, fees, and interest calculation (often daily interest charged monthly) can produce different outcomes. If you’re unsure, consider speaking with a licensed mortgage broker or adviser before changing repayment frequency.
How to complete the form (in order) for the most accurate estimate:
1. Loan Amount (in dollars). Enter your current loan balance or the amount you plan to borrow. Use the loan principal only (exclude ongoing fees unless they are capitalised into the loan). Round to the nearest dollar for a cleaner comparison.
2. Term of Loan (in years). Select the total remaining term (for an existing loan) or your intended term (for a new loan). A longer term usually reduces each repayment but increases total interest paid.
3. Interest Rate (percent per annum). Choose the interest rate you expect to apply. If you have a variable rate, you can re-run the calculator with higher and lower rates to stress-test your budget.
4. Calculate. Review the comparison between monthly repayments and fortnightly repayments (often shown as half the monthly amount paid every two weeks).
How to interpret the results: focus on the estimated repayment amount per frequency, the total interest over the life of the loan, and any reduction in the time to repay. If the fortnightly method results in 26 payments per year, you may effectively make the equivalent of one extra monthly repayment each year, which can accelerate principal reduction. Confirm with your lender how fortnightly repayments are applied and whether extra repayments are allowed without fees.
In response to recent federal budget reforms restricting negative gearing to new property constructions, Macquarie Bank has revised its investor loan assessment policies. Effective 18 May 2026, the bank will exclude negative gearing benefits from serviceability calculations for investment properties purchased after 12 May 2026, unless they are new builds contributing to housing supply. - read more
Recent data indicates a significant slowdown in new mortgage applications across Australia, coinciding with the Reserve Bank of Australia's (RBA) series of interest rate hikes. The latest increase on 5 May 2026 brought the cash rate to 4.35%, marking the third consecutive rise this year. - read more
In the wake of the Reserve Bank of Australia's (RBA) recent cash rate increase to 4.35%, a notable trend has emerged among Australian lenders. While many major banks have promptly passed on the rate hike to their customers, over two dozen lenders have yet to adjust their mortgage rates. This development presents a unique opportunity for borrowers seeking more favorable loan terms. - read more
The Reserve Bank of Australia's (RBA) recent decision to raise the cash rate to 4.35% is anticipated to have a cooling effect on new mortgage demand across the country. This trend reflects the broader impact of rising interest rates on borrower behavior and the housing market. - read more
In the realm of homeownership, mortgage refinancing stands out as a valuable tool for financial management. At its core, refinancing refers to the process of revising and replacing the terms of your existing mortgage agreement. Homeowners choose this path for various reasons, such as accessing a better interest rate, altering the loan term, or tapping into home equity. - read more
Mortgage refinancing involves replacing your existing home loan with a new one, usually to take advantage of better interest rates or terms. By switching lenders or renegotiating with your current lender, refinancing can lead to lower monthly payments, reduced loan terms, or access to equity for other expenses. - read more
Mortgage refinancing involves replacing your current home loan with a new one, often to benefit from better terms. This financial maneuver is commonly pursued to seize lower interest rates, reduce monthly payments, or alter the loan term. It can also provide cash by tapping into the equity you've built up in your home. - read more
Mortgage refinancing refers to the process of replacing your existing home loan with a new one, typically under different terms. Essentially, you're paying off your old mortgage with a new loan. This can be an extremely useful financial maneuver, allowing homeowners to benefit from better interest rates or change their loan type to suit their current needs. - read more
Knowledgebase
Debt-to-Equity Ratio: A measure of a company’s financial leverage, calculated by dividing its total liabilities by stockholders’ equity.
