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Home Renovation Loan Repayment Calculator

Updated 11 July 2024 
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Our calculator can work out the cost of renovation plans upfront so you know how much you can afford.

To find out what you will pay monthly and in total, simply insert:
  1. The renovation loan amount (the total amount of money you want to borrow)
  2. The renovation loan length (how long you want to repay the loan)
  3. The likely interest rate

​Be aware that advertised interest rates from lenders may vary from your actual rate due to your personal circumstances.

Home Renovation Loan Calculator

Home Renovation Amount
Loan Length
Interest Rate
Payments Per Year
Home Renovation Loan Payment
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Home Renovation Loan Amount
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Total Interest
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Total Cost
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Important: Our calculations are based on the assumption that you make the same fixed home renovation loan repayment for the entire loan period, the interest rate does not increase or decrease, you don't miss any repayment deadlines, overpay or underpay.

Video Explainer:
MoneyHub Founder Christopher Walsh explains how to use a home renovation loan calculator. He also compares your options - a one-off personal loan or withdrawing money on your mortgage. Both have unique pros and cons, specifically around the total cost of interest incurred during the life of the loan.
Christopher Walsh
MoneyHub Founder
Unlock the Best Personal Loan Rates with MoneyHub – Don't Overpay When Getting Personal Loan

Are you tired of overpaying with high interest rates and exorbitant fees? Our research shortlists three outstanding lenders known for their fair rates and reliable service:
Checking what interest rate you'll get is quick and easy - just a few minutes could save you thousands, given the range of interest rates. 

Remember, it's the interest rate you agree to now that makes a huge difference when you repay your loan week after week. We believe that signing up for finance with a car salesperson or via a bank is unlikely to be the cheapest option.

Advertising Disclosure: We may earn a commission from loans, but our top picks are always based on rigorous research and your best interest.

What is the maximum limit for a renovation loan?

  • Renovation loans are usually limited to $50,000. 
  • Are you planning more extensive renovations, i.e. structural changes? If so, a home loan is more suitable; our guide covers the latest home loan offers.
  • If you already have a home loan, you can ask your bank about a home loan ‘top-up’. If approved, you can access a specific amount of money for your structural changes (i.e. an extension, a new roof, electrical wiring or plumbing, work on the foundations, wall removal, etc.). If you don’t repay the home loan, as is the case with any mortgage, the lender can repossess your home.

Where can I get the best home improvement loan deal?

  • Our guide to home improvement loans explains everything you need to know to make the right decision and has a list of best-buy finance deals (and alternatives that can fund more modest renovations). 
  • Know how to boost your credit score to get the best home renovation interest rate and bring down your overall renovation costs.
  • Our bathroom renovations guide explains must-know costs, how to get quotes, renovation facts and tips covers what matters.
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