A $370,000 property in Australia with a 20% deposit ($74,000) at 6.30% has a principal-and-interest payment of about $1,832.16 per month over 30 years. Council rates and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,436 | $18,550 | $292,564 |
| 2 | $3,659 | $18,327 | $288,905 |
| 3 | $3,896 | $18,090 | $285,009 |
| 4 | $4,149 | $17,837 | $280,860 |
| 5 | $4,418 | $17,568 | $276,442 |
| 6 | $4,704 | $17,282 | $271,738 |
| 7 | $5,009 | $16,976 | $266,729 |
| 8 | $5,334 | $16,652 | $261,394 |
| 9 | $5,680 | $16,306 | $255,714 |
| 10 | $6,049 | $15,937 | $249,666 |
| 11 | $6,441 | $15,545 | $243,225 |
| 12 | $6,859 | $15,127 | $236,366 |
| 13 | $7,303 | $14,683 | $229,063 |
| 14 | $7,777 | $14,209 | $221,286 |
| 15 | $8,281 | $13,705 | $213,004 |
| 16 | $8,818 | $13,168 | $204,186 |
| 17 | $9,390 | $12,596 | $194,796 |
| 18 | $9,999 | $11,987 | $184,797 |
| 19 | $10,648 | $11,338 | $174,149 |
| 20 | $11,338 | $10,648 | $162,811 |
| 21 | $12,074 | $9,912 | $150,737 |
| 22 | $12,857 | $9,129 | $137,881 |
| 23 | $13,690 | $8,296 | $124,190 |
| 24 | $14,578 | $7,408 | $109,612 |
| 25 | $15,524 | $6,462 | $94,089 |
| 26 | $16,530 | $5,456 | $77,559 |
| 27 | $17,602 | $4,384 | $59,956 |
| 28 | $18,744 | $3,242 | $41,213 |
| 29 | $19,959 | $2,027 | $21,253 |
| 30 | $21,253 | $732 | $0 |
With a 20% deposit at 6.30%, principal and interest are about $1,832.16 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 $74,000, 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.