FunanceRate rises and falls
Run 0.25%, 0.5% and 1% in either direction against your real balance and term, and see the repayment and the total interest change together.
Mortgage scenarios for Australian borrowersWhat happens if rates move again?
A repayment calculator tells you what you owe today. A scenario engine tells you what happens if the RBA moves, if you put an extra $200 a month in, or if you refinance. Those are the questions that actually change decisions.
14 days of Pro free, no card · then the free plan, or $79 a year · no bank login
Change in monthly repayment at +0.25%
+$118
+$1,416 a year, from 6.63% to 6.88%.
- Repayment now (6.63%)
- $4,853
- Repayment after (6.88%)
- $4,971
- Difference a month
- +$118
- Difference a year
- +$1,416
If the higher rate held for the rest of the loan, it would add about $38,212 in interest over 27 years. A rate that later falls again would cost less.
Get the RBA decision by email
Subscribe for a short note when the RBA moves, with what it does to a typical repayment. Confirmed opt-in, a couple of emails a month at most. Nothing you typed above ever leaves your browser.
The RBA raised the cash rate by 0.25% to 4.85% on 3 November, its fifth rise in 2026 and the highest level since 2008. Before that move, the average advertised owner-occupier variable rate was 6.63% on 2 October (Canstar). The interesting question is no longer what your repayment is. You know that. It is what your repayment becomes under the moves that are plausible from here, and which lever does the most for you.
Six of the nine Board members voted for the rise and three to hold. The next decision is at 2:30pm on Tuesday 8 December. The calculator above starts at a 0.25% rise, roughly what the November move adds if your lender passes it on in full, and you can move it either way to see another rise or a cut.
Funance models the loan you actually have, not a generic one: your balance, your rate, your remaining term, your offset. Then it lets you run the scenarios side by side rather than one at a time.
The comparison is the point. Extra repayments and an offset balance can look similar in isolation and behave quite differently over a full term.
| Scenario | Monthly repayment |
|---|---|
| Today, 6.63% | About $4,853 |
| +0.25%, one RBA rise | About $4,971 |
| +0.50% | About $5,090 |
| +1.00% | About $5,332 |
| −0.25% | About $4,736 |
| Gap, −0.25% to +1.00% | About $596 a month |
$731,000, the average new owner-occupier home loan in Australia (ABS Lending Indicators, June quarter 2026), over 27 years at 6.63%, the average advertised owner-occupier variable rate on 2 October 2026 (Canstar). Illustrative figures, principal and interest, not a quote.
See it with your own numbers
Every account starts with 14 days of Pro, no card. Keep it for $79 a year, or carry on with the free plan.
How it works
Levers you can model
Extra repayments
Add a fixed monthly amount or a lump sum and watch the payoff date move. Small amounts early do disproportionate work, and the model shows by how much.
Offset balance
Model cash sitting in an offset against the same loan, so you can compare it directly with paying the money straight off the principal.
Refinance comparison
Put a competing rate next to your current one with the switching costs included, so the comparison is net rather than headline.
Your rate against what lenders publish
Every home loan is shown against the RBA average for new loans like it, on the free plan. Pro adds lenders' lowest published rates for the same kind of loan, refreshed weekly from the banks' own data, with the interest difference and how long switching costs take to pay back.
An email when rates move
Switch on rate alerts in Pro and Funance emails you, at most once a week, when lenders publish rates below yours, when the RBA moves after you last updated your rate, when your loan drops into a cheaper LVR band, or when a fixed term is 90 days from ending.
What you need to enter
- Current loan balance
- Your interest rate
- Remaining term
- Offset balance, if you have one
Questions
Before you start
Is this a borrowing power calculator?
No. It models a loan you already have rather than estimating what a lender would advance you. It is a planning tool for existing borrowers.
Are the repayment figures exact?
They are estimates calculated from the balance, rate and term you enter, using standard principal and interest amortisation. Your lender's figure may differ slightly with fees and rounding, so treat these as planning numbers rather than a quote.
Which plan includes scenarios?
The Scenarios tab is part of Pro, at $9.90 a month or $79 a year. The Debts tab on the free plan covers repayment and payoff order.
Does it compare my rate with other lenders?
Yes. On the free plan, the Debts tab shows how your rate compares with the RBA average for new loans of the same kind. In Pro, the Rate check in the Insights tab lists lenders' lowest published rates for loans like yours (same purpose, repayment type, variable or fixed term and LVR band), what your own lender publishes for new customers, and a script for asking them to match. Rates come from each bank's Consumer Data Right data, refreshed weekly, with introductory rates and discounts left out. Nobody pays to be listed: no referral fees, commissions or affiliate links. It is general information, not a recommendation of any lender.
Will it tell me when rates change?
Yes, in Pro, if you switch on rate alerts. You get at most one email a week, only when there is something new: lenders publishing rates below yours, an RBA move your rate has not caught up with, a cheaper LVR band, or a fixed term ending within 90 days. Alerts are worked out from your synced numbers, so cloud sync needs to be on, and every email has a one-click way to turn them off.
Related
Related tools and guides
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Equity is your property's value minus what you owe. Usable equity is a smaller number, and it is the one lenders care about. Confusing the two is how people end up disappointed at the bank.
Home equity calculator →Debt repayment calculator
Two households with identical debts and identical budgets can finish years apart, purely on payoff order. Funance shows both strategies side by side with your numbers, then gives you a date.
Debt repayment calculator →Net worth calculator Australia
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Net worth calculator →Know where your money goes.
Know where you're going.
Every account starts with 14 days of Pro, no card needed. Keep it for $79 a year, or carry on with the free plan: Overview, Budget and Debts, for good. No bank login either way.
14 days of Pro free, no card · then the free plan, or $79 a year · no bank login