General information only — not financial advice. This content is intended as educational guidance. Consult a qualified financial adviser, mortgage broker, or legal professional before making financial decisions. See our full disclaimer.
At the current average variable rate of 6.22%, monthly repayments on a $1,500,000 home loan are:30-year term: $9,501/month (P&I)25-year term: $10,147/month (P&I)Interest-only: $8,150/monthAt nearly $10,000/month, this is a premium loan requiring high income or dual high earners.
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $9,501/mo | $8,150/mo |
| 25 years | $10,147/mo | — |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
Typically a household income of $240,000–$290,000+ gross. For a single applicant, $250,000+ gross with minimal debts. Most $1.5M borrowers are dual-income professional households or high-income individuals.
Yes. Many lenders offer rate discounts for larger loans, particularly above $750K or $1M. A mortgage broker can negotiate packaged rates, and some private banks offer premium rates for high-value loans. Even a 0.25% discount saves $87,000 over 30 years.
Fixing a portion (e.g., $750K fixed, $750K variable with offset) gives rate certainty on half the loan while maintaining offset benefits on the other half. This is the most popular structure for large loans in Australia.
Use our free calculator to get personalised results based on your specific situation. No sign-up required.