A $380,000 mortgage in Australia at 6.30% costs about $2,352.10 per month for principal and interest over 30 years. In Australia, Lenders Mortgage Insurance (LMI) usually applies with less than a 20% deposit and varies by lender.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $4,411 | $23,814 | $375,589 |
| 2 | $4,697 | $23,528 | $370,892 |
| 3 | $5,002 | $23,223 | $365,890 |
| 4 | $5,326 | $22,899 | $360,564 |
| 5 | $5,672 | $22,554 | $354,892 |
| 6 | $6,039 | $22,186 | $348,853 |
| 7 | $6,431 | $21,794 | $342,422 |
| 8 | $6,848 | $21,377 | $335,574 |
| 9 | $7,292 | $20,933 | $328,281 |
| 10 | $7,765 | $20,460 | $320,516 |
| 11 | $8,269 | $19,956 | $312,247 |
| 12 | $8,805 | $19,420 | $303,442 |
| 13 | $9,376 | $18,849 | $294,066 |
| 14 | $9,984 | $18,241 | $284,082 |
| 15 | $10,632 | $17,594 | $273,451 |
| 16 | $11,321 | $16,904 | $262,130 |
| 17 | $12,055 | $16,170 | $250,075 |
| 18 | $12,837 | $15,388 | $237,238 |
| 19 | $13,669 | $14,556 | $223,568 |
| 20 | $14,556 | $13,669 | $209,012 |
| 21 | $15,500 | $12,725 | $193,513 |
| 22 | $16,505 | $11,720 | $177,008 |
| 23 | $17,575 | $10,650 | $159,432 |
| 24 | $18,715 | $9,510 | $140,717 |
| 25 | $19,929 | $8,296 | $120,788 |
| 26 | $21,221 | $7,004 | $99,566 |
| 27 | $22,598 | $5,628 | $76,969 |
| 28 | $24,063 | $4,162 | $52,906 |
| 29 | $25,624 | $2,602 | $27,282 |
| 30 | $27,282 | $940 | $0 |
At 6.30% over 30 years, the principal-and-interest payment on a $380,000 mortgage is about $2,352.10 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.
No — this is principal and interest only. Council rates and home insurance are paid separately on top. In Australia, Lenders Mortgage Insurance (LMI) usually applies with less than a 20% deposit and varies by lender.
Over the full 30-year term at 6.30%, total interest on a $380,000 mortgage is roughly $466,756. Overpaying reduces this substantially.
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.