A $670,000 property in Australia with a 20% deposit ($134,000) at 6.30% has a principal-and-interest payment of about $3,317.69 per month over 30 years. Council rates and home insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $6,222 | $33,590 | $529,778 |
| 2 | $6,625 | $33,187 | $523,153 |
| 3 | $7,055 | $32,757 | $516,098 |
| 4 | $7,513 | $32,300 | $508,585 |
| 5 | $8,000 | $31,812 | $500,585 |
| 6 | $8,519 | $31,294 | $492,067 |
| 7 | $9,071 | $30,741 | $482,996 |
| 8 | $9,659 | $30,153 | $473,336 |
| 9 | $10,286 | $29,527 | $463,051 |
| 10 | $10,953 | $28,860 | $452,098 |
| 11 | $11,663 | $28,149 | $440,435 |
| 12 | $12,419 | $27,393 | $428,015 |
| 13 | $13,225 | $26,587 | $414,790 |
| 14 | $14,083 | $25,730 | $400,708 |
| 15 | $14,996 | $24,817 | $385,712 |
| 16 | $15,968 | $23,844 | $369,744 |
| 17 | $17,004 | $22,808 | $352,740 |
| 18 | $18,107 | $21,706 | $334,633 |
| 19 | $19,281 | $20,531 | $315,353 |
| 20 | $20,531 | $19,281 | $294,822 |
| 21 | $21,863 | $17,950 | $272,959 |
| 22 | $23,280 | $16,532 | $249,678 |
| 23 | $24,790 | $15,022 | $224,888 |
| 24 | $26,398 | $13,414 | $198,490 |
| 25 | $28,110 | $11,702 | $170,380 |
| 26 | $29,933 | $9,879 | $140,448 |
| 27 | $31,874 | $7,938 | $108,574 |
| 28 | $33,941 | $5,871 | $74,632 |
| 29 | $36,142 | $3,670 | $38,490 |
| 30 | $38,490 | $1,326 | $0 |
With a 20% deposit at 6.30%, principal and interest are about $3,317.69 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 $134,000, 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.