What Is a Home Loan Repayment?

Learn about what a home loan repayment is and what factors impact how much your repayment amount is.

A home loan repayment is a pre-agreed amount of money you need to repay on your home loan each month in regular mortgage payments. It takes into consideration:

  • How much you borrowed to purchase the property – which is called the principal
  • The interest rate charged by the lender for letting you borrow the money
  • The length of time you’ve agreed to pay the money back by

The amount of your home loan repayment will depend on a few factors, including the:

  • Size of the loan
  • Interest rate
  • Length of the loan term

And if you have a variable rate loan, your repayments could change from time to time.

Learn how interest rate changes affects your repayments.

This article does not have regard for the financial situation or needs of any reader and must not be relied upon as financial product advice. As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on this, consider the appropriateness to your circumstances.

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