Mortgage Repayment Amounts Australia (2026)
How much will your mortgage repayments be? The answer depends on your loan amount, interest rate and loan term. This guide breaks down exact repayment figures for every major loan size — from $300,000 to $1,500,000 — using current Australian interest rates.
At a 6.00% p.a. variable rate over 30 years, here is what monthly repayments look like across common loan sizes:
| Loan Amount | Monthly Repayment | Fortnightly | Weekly |
|---|---|---|---|
| $300,000 | $1,799 | $831 | $415 |
| $400,000 | $2,398 | $1,107 | $554 |
| $500,000 | $2,998 | $1,384 | $692 |
| $600,000 | $3,598 | $1,661 | $831 |
| $700,000 | $4,197 | $1,937 | $969 |
| $800,000 | $4,797 | $2,214 | $1,107 |
| $900,000 | $5,396 | $2,490 | $1,245 |
| $1,000,000 | $5,996 | $2,767 | $1,384 |
| $1,500,000 | $8,994 | $4,151 | $2,076 |
Based on principal and interest, 30-year term, 6.00% p.a. Actual repayments depend on your lender and rate.
Repayment Guides by Loan Amount
- $300,000 Mortgage Repayments
- $400,000 Mortgage Repayments
- $500,000 Mortgage Repayments
- $600,000 Mortgage Repayments
- $700,000 Mortgage Repayments
- $800,000 Mortgage Repayments
- $900,000 Mortgage Repayments
- $1,000,000 Mortgage Repayments
- $1,500,000 Mortgage Repayments
Topic Guides
- Average Mortgage Repayment in Australia (2026)
- True Cost of Homeownership in Australia
- What Does a 0.5% Rate Difference Cost Over 30 Years?
How Repayments Are Calculated
Australian home loan repayments are calculated using the standard principal-and-interest (P&I) amortisation formula. Each repayment covers interest charged on the outstanding balance plus a portion of the principal. In the early years, the majority of each repayment goes toward interest — this shifts toward principal over time.
Key variables that affect your repayment:
- Loan amount — the amount borrowed (not the property purchase price)
- Interest rate — the annual percentage rate set by your lender
- Loan term — typically 25 or 30 years in Australia
- Repayment type — principal and interest (P&I) or interest-only (IO)
Fortnightly repayments are calculated as monthly × 12 ÷ 26. Paying fortnightly instead of monthly effectively adds one extra monthly repayment per year, which can reduce the loan term and total interest significantly.
Effect of Interest Rate on Total Repayments
Interest rate has a large impact on both monthly repayment and total interest paid. For a $500,000 loan over 30 years:
| Rate | Monthly Repayment | Total Interest Paid |
|---|---|---|
| 5.50% | $2,840 | $522,400 |
| 6.00% | $2,998 | $579,280 |
| 6.50% | $3,162 | $638,320 |
| 7.00% | $3,327 | $697,720 |
| 7.50% | $3,496 | $758,560 |
A 1% difference in rate costs approximately $160–$175 more per month on a $500,000 loan — and over $100,000 more in total interest over 30 years. See the full analysis in What Does a 1% Rate Difference Cost?
Repayment and Borrowing Power
To borrow a given loan amount, you need sufficient income to meet your lender’s serviceability assessment. Australian lenders apply a 3% buffer above the actual interest rate (required by APRA) when assessing your capacity to repay.
For income guidance, see the Mortgage Affordability guides — including articles on how much you can borrow at specific salary levels.