In Gold Coast, the median property is around $900,000. With a 20% deposit at 6.30% over 30 years, the principal-and-interest payment is roughly $4,456.60 per month. Council rates and insurance are additional.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $8,358 | $45,121 | $711,642 |
| 2 | $8,900 | $44,579 | $702,742 |
| 3 | $9,477 | $44,002 | $693,265 |
| 4 | $10,092 | $43,388 | $683,174 |
| 5 | $10,746 | $42,733 | $672,428 |
| 6 | $11,443 | $42,036 | $660,985 |
| 7 | $12,185 | $41,294 | $648,800 |
| 8 | $12,975 | $40,504 | $635,825 |
| 9 | $13,817 | $39,663 | $622,008 |
| 10 | $14,713 | $38,766 | $607,295 |
| 11 | $15,667 | $37,812 | $591,628 |
| 12 | $16,683 | $36,796 | $574,946 |
| 13 | $17,765 | $35,714 | $557,181 |
| 14 | $18,917 | $34,562 | $538,264 |
| 15 | $20,144 | $33,336 | $518,120 |
| 16 | $21,450 | $32,029 | $496,670 |
| 17 | $22,841 | $30,638 | $473,829 |
| 18 | $24,322 | $29,157 | $449,507 |
| 19 | $25,900 | $27,580 | $423,608 |
| 20 | $27,579 | $25,900 | $396,028 |
| 21 | $29,368 | $24,111 | $366,660 |
| 22 | $31,272 | $22,207 | $335,388 |
| 23 | $33,300 | $20,179 | $302,088 |
| 24 | $35,460 | $18,019 | $266,628 |
| 25 | $37,760 | $15,720 | $228,868 |
| 26 | $40,208 | $13,271 | $188,660 |
| 27 | $42,816 | $10,663 | $145,844 |
| 28 | $45,593 | $7,887 | $100,251 |
| 29 | $48,549 | $4,930 | $51,702 |
| 30 | $51,702 | $1,781 | $0 |
On a median Gold Coast property (about $900,000) with a 20% deposit at 6.30%, principal and interest are roughly $4,456.60 per month.
A 20% deposit on the median Gold Coast property is about $180,000. In Australia, Lenders Mortgage Insurance (LMI) usually applies with less than a 20% deposit and varies by lender.
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.