A $360,000 property in Australia with a 20% deposit ($72,000) at 6.30% has a principal-and-interest payment of about $1,782.64 per month over 30 years. Council rates and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,343 | $18,049 | $284,657 |
| 2 | $3,560 | $17,832 | $281,097 |
| 3 | $3,791 | $17,601 | $277,306 |
| 4 | $4,037 | $17,355 | $273,270 |
| 5 | $4,298 | $17,093 | $268,971 |
| 6 | $4,577 | $16,815 | $264,394 |
| 7 | $4,874 | $16,518 | $259,520 |
| 8 | $5,190 | $16,202 | $254,330 |
| 9 | $5,527 | $15,865 | $248,803 |
| 10 | $5,885 | $15,507 | $242,918 |
| 11 | $6,267 | $15,125 | $236,651 |
| 12 | $6,673 | $14,719 | $229,978 |
| 13 | $7,106 | $14,286 | $222,872 |
| 14 | $7,567 | $13,825 | $215,306 |
| 15 | $8,057 | $13,334 | $207,248 |
| 16 | $8,580 | $12,812 | $198,668 |
| 17 | $9,136 | $12,255 | $189,532 |
| 18 | $9,729 | $11,663 | $179,803 |
| 19 | $10,360 | $11,032 | $169,443 |
| 20 | $11,032 | $10,360 | $158,411 |
| 21 | $11,747 | $9,645 | $146,664 |
| 22 | $12,509 | $8,883 | $134,155 |
| 23 | $13,320 | $8,072 | $120,835 |
| 24 | $14,184 | $7,208 | $106,651 |
| 25 | $15,104 | $6,288 | $91,547 |
| 26 | $16,083 | $5,308 | $75,464 |
| 27 | $17,126 | $4,265 | $58,338 |
| 28 | $18,237 | $3,155 | $40,101 |
| 29 | $19,420 | $1,972 | $20,681 |
| 30 | $20,681 | $713 | $0 |
With a 20% deposit at 6.30%, principal and interest are about $1,782.64 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 $72,000, 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.