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At the current average variable rate of 6.47%, monthly repayments on a $1,100,000 home loan are:30-year term: $6,931/month (P&I)25-year term: $7,411/month (P&I)Interest-only: $5,931/monthOver 30 years at 6.47%, total interest is approximately $1,395,160.
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $6,931/mo | $5,931/mo |
| 25 years | $7,411/mo | - |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
Typically $175,000–$210,000 gross income for a single applicant with minimal debts. For joint applicants, a combined $175,000+ usually qualifies.
No - there's no formal "jumbo loan" category in Australia. All lenders apply the same APRA serviceability requirements regardless of loan size.
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