A $420,000 property in Australia with a 20% deposit ($84,000) at 6.30% has a principal-and-interest payment of about $2,079.75 per month over 30 years. Council rates and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,900 | $21,057 | $332,100 |
| 2 | $4,153 | $20,804 | $327,946 |
| 3 | $4,423 | $20,534 | $323,524 |
| 4 | $4,709 | $20,248 | $318,814 |
| 5 | $5,015 | $19,942 | $313,799 |
| 6 | $5,340 | $19,617 | $308,459 |
| 7 | $5,686 | $19,271 | $302,773 |
| 8 | $6,055 | $18,902 | $296,718 |
| 9 | $6,448 | $18,509 | $290,270 |
| 10 | $6,866 | $18,091 | $283,404 |
| 11 | $7,311 | $17,646 | $276,093 |
| 12 | $7,785 | $17,172 | $268,307 |
| 13 | $8,290 | $16,667 | $260,017 |
| 14 | $8,828 | $16,129 | $251,189 |
| 15 | $9,400 | $15,557 | $241,789 |
| 16 | $10,010 | $14,947 | $231,779 |
| 17 | $10,659 | $14,298 | $221,119 |
| 18 | $11,351 | $13,607 | $209,769 |
| 19 | $12,087 | $12,870 | $197,682 |
| 20 | $12,870 | $12,087 | $184,812 |
| 21 | $13,705 | $11,252 | $171,107 |
| 22 | $14,594 | $10,363 | $156,513 |
| 23 | $15,540 | $9,417 | $140,972 |
| 24 | $16,548 | $8,409 | $124,424 |
| 25 | $17,621 | $7,336 | $106,803 |
| 26 | $18,764 | $6,193 | $88,039 |
| 27 | $19,981 | $4,976 | $68,058 |
| 28 | $21,277 | $3,680 | $46,781 |
| 29 | $22,657 | $2,300 | $24,124 |
| 30 | $24,124 | $831 | $0 |
With a 20% deposit at 6.30%, principal and interest are about $2,079.75 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 $84,000, 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.