A $320,000 property in Australia with a 20% deposit ($64,000) at 6.30% has a principal-and-interest payment of about $1,584.57 per month over 30 years. Council rates and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $2,972 | $16,043 | $253,028 |
| 2 | $3,164 | $15,850 | $249,864 |
| 3 | $3,370 | $15,645 | $246,494 |
| 4 | $3,588 | $15,427 | $242,906 |
| 5 | $3,821 | $15,194 | $239,085 |
| 6 | $4,069 | $14,946 | $235,017 |
| 7 | $4,332 | $14,682 | $230,684 |
| 8 | $4,613 | $14,401 | $226,071 |
| 9 | $4,913 | $14,102 | $221,158 |
| 10 | $5,231 | $13,784 | $215,927 |
| 11 | $5,570 | $13,444 | $210,357 |
| 12 | $5,932 | $13,083 | $204,425 |
| 13 | $6,316 | $12,698 | $198,108 |
| 14 | $6,726 | $12,289 | $191,382 |
| 15 | $7,162 | $11,853 | $184,220 |
| 16 | $7,627 | $11,388 | $176,594 |
| 17 | $8,121 | $10,894 | $168,472 |
| 18 | $8,648 | $10,367 | $159,824 |
| 19 | $9,209 | $9,806 | $150,616 |
| 20 | $9,806 | $9,209 | $140,810 |
| 21 | $10,442 | $8,573 | $130,368 |
| 22 | $11,119 | $7,896 | $119,249 |
| 23 | $11,840 | $7,175 | $107,408 |
| 24 | $12,608 | $6,407 | $94,800 |
| 25 | $13,426 | $5,589 | $81,375 |
| 26 | $14,296 | $4,718 | $67,078 |
| 27 | $15,223 | $3,791 | $51,855 |
| 28 | $16,211 | $2,804 | $35,644 |
| 29 | $17,262 | $1,753 | $18,382 |
| 30 | $18,382 | $633 | $0 |
With a 20% deposit at 6.30%, principal and interest are about $1,584.57 per month. Australian home loans are commonly variable-rate (or fixed for 1–3 years) over a 30-year term, often with an offset account.
A 20% deposit is $64,000, which avoids mortgage insurance where it applies. In Australia, Lenders Mortgage Insurance (LMI) usually applies with less than a 20% deposit and varies by lender.
No — this is principal and interest. Add council rates, home insurance and any strata fees for your full monthly housing cost.
Sources: Reserve Bank of Australia; Standard amortization (annuity) formula.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.