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At the current average variable rate of 6.47%, monthly repayments on a $1,200,000 home loan are:30-year term: $7,561/month (P&I)25-year term: $8,084/month (P&I)Interest-only: $6,470/monthOver 30 years at 6.47%, total interest is approximately $1,521,960.
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $7,561/mo | $6,470/mo |
| 25 years | $8,084/mo | - |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
Typically $190,000–$230,000 gross for a single applicant. Most $1.2M loans in Australia are taken by professional couples or high-income singles in Sydney or Melbourne.
Yes - with a 20% deposit ($300,000 for a $1.5M property). LMI on a $1.2M loan at 85% LVR can cost $30,000–$45,000.
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