Repayments on a $1.1 Million Mortgage in Australia

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.

What income do I need for a $1.1M mortgage?

Typically $175,000–$210,000 gross income for a single applicant with minimal debts. For joint applicants, a combined $175,000+ usually qualifies.

Is $1.1M a jumbo loan in Australia?

No — there's no formal "jumbo loan" category in Australia. All lenders apply the same APRA serviceability requirements regardless of loan size.