Australia Mortgage Calculator
Calculate your home loan repayments in Australia, including council rates and home insurance, and see how much interest you pay over the life of the loan.
Updated for the 2026-27 tax year · Rates checked 14 October 2026
| Principal & interest | $3,597.30 |
|---|---|
| Council rates | $166.67 |
| Home insurance | $150.00 |
| Total monthly payment | $3,913.97 |
| Loan amount | $600,000 |
| Down payment | $150,000 |
| Total interest over the term | $695,029 |
| Cash needed upfront | $150,000 |
- Over 30 years you would pay $695,029 in interest on a $600,000 loan.
Your result, explained
Borrowing $600,000 costs $3,597.30 a month in principal and interest, plus $316.67 for property costs like tax and insurance, so you should budget $3,913.97 a month. Over the full term you would pay $695,029 in interest, 116% on top of what you borrowed.
Ways to make it cheaper: paying even a little extra each month cuts years off the loan; a rate just 0.5% lower saves thousands over the term, so compare lenders. Remember you need $150,000 in cash upfront.
Amortisation schedule (by year)
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $7,368 | $35,800 | $592,632 |
| 2 | $7,823 | $35,345 | $584,809 |
| 3 | $8,305 | $34,863 | $576,504 |
| 4 | $8,817 | $34,350 | $567,687 |
| 5 | $9,361 | $33,807 | $558,326 |
| 6 | $9,938 | $33,229 | $548,388 |
| 7 | $10,551 | $32,616 | $537,836 |
| 8 | $11,202 | $31,965 | $526,634 |
| 9 | $11,893 | $31,275 | $514,741 |
| 10 | $12,627 | $30,541 | $502,114 |
| 11 | $13,405 | $29,762 | $488,709 |
| 12 | $14,232 | $28,935 | $474,477 |
| 13 | $15,110 | $28,058 | $459,367 |
| 14 | $16,042 | $27,126 | $443,325 |
| 15 | $17,031 | $26,136 | $426,293 |
| 16 | $18,082 | $25,086 | $408,211 |
| 17 | $19,197 | $23,970 | $389,014 |
| 18 | $20,381 | $22,786 | $368,633 |
| 19 | $21,638 | $21,529 | $346,994 |
| 20 | $22,973 | $20,195 | $324,022 |
| 21 | $24,390 | $18,778 | $299,632 |
| 22 | $25,894 | $17,274 | $273,738 |
| 23 | $27,491 | $15,676 | $246,246 |
| 24 | $29,187 | $13,981 | $217,060 |
| 25 | $30,987 | $12,181 | $186,073 |
| 26 | $32,898 | $10,269 | $153,174 |
| 27 | $34,927 | $8,240 | $118,247 |
| 28 | $37,082 | $6,086 | $81,165 |
| 29 | $39,369 | $3,799 | $41,797 |
| 30 | $41,797 | $1,371 | $0 |
Popular amounts
- $100,000$796
- $125,000$916
- $150,000$1,036
- $175,000$1,156
- $200,000$1,276
- $225,000$1,396
- $250,000$1,516
- $275,000$1,636
- $300,000$1,756
- $325,000$1,876
- $350,000$1,995
- $375,000$2,115
- $400,000$2,235
- $425,000$2,355
- $450,000$2,475
- $475,000$2,595
- $500,000$2,715
- $525,000$2,835
- $550,000$2,955
- $575,000$3,075
- $600,000$3,195
- $625,000$3,314
- $650,000$3,434
- $675,000$3,554
- $700,000$3,674
- $725,000$3,794
- $750,000$3,914
- $775,000$4,034
- $800,000$4,154
- $825,000$4,274
- $850,000$4,394
- $875,000$4,514
- $900,000$4,633
- $925,000$4,753
- $950,000$4,873
- $975,000$4,993
- $1,000,000$5,113
- $1,025,000$5,233
- $1,050,000$5,353
- $1,075,000$5,473
- $1,100,000$5,593
- $1,125,000$5,713
- $1,150,000$5,833
- $1,175,000$5,952
- $1,200,000$6,072
- $1,225,000$6,192
- $1,250,000$6,312
- $1,275,000$6,432
- $1,300,000$6,552
- $1,325,000$6,672
- $1,350,000$6,792
- $1,375,000$6,912
- $1,400,000$7,032
- $1,425,000$7,152
- $1,450,000$7,271
- $1,475,000$7,391
- $1,500,000$7,511
How your mortgage payment is calculated
A repayment mortgage has a fixed monthly payment that covers the interest due that month plus a slice of the loan. Early on, most of each payment is interest. As the balance falls, more goes to the principal, which you can see in the schedule above.
The formula is P × r ÷ (1 − (1 + r)−n), where P is the loan, r the monthly interest rate and n the number of payments.
How to lower your monthly payment
- Bigger deposit: borrowing less cuts both the payment and the total interest, and can remove mortgage insurance.
- Longer term: spreads the loan over more payments but costs more interest overall.
- Better rate: even 0.25% makes a noticeable difference over 25–30 years. Compare lenders and brokers.
Frequently asked questions
What deposit do I need in Australia?
Lenders usually want 20% to avoid lenders mortgage insurance (LMI). Many lend with 5–10% deposit plus LMI, and government schemes can help first-home buyers.
Does this include stamp duty?
No. Transfer (stamp) duty is set by each state and territory and varies with first-home-buyer concessions. Check your state revenue office.
Fortnightly or monthly repayments?
Paying half your monthly repayment every fortnight means 26 half-payments a year, the same as 13 monthly payments. That can take years off the loan.