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At the current average variable rate of 6.47%, monthly repayments on a $100,000 home loan are: 30-year term: $630/month (P&I), 25-year term: $674/month (P&I), Interest-only: $539/month. A 25-year term costs $44 more per month but saves approximately $24,600 in total interest.
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $630/mo | $539/mo |
| 25 years | $674/mo | — |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
As a rough guide, you'd need a gross annual income of approximately $30,000–$40,000 for a single applicant, depending on expenses and other debts. Most lenders have a minimum loan threshold of $50,000–$100,000; serviceability is rarely the issue at this size.
As a loan amount with a 20% deposit, you're targeting a $125,000 property — available in remote and regional QLD, SA, TAS, and some NT areas. Many lenders restrict lending in very remote postcodes regardless of income.
Even at $100K, 30-year compound interest adds $126,800 to your total cost. Paying fortnightly or making an extra $100/month saves approximately $36,000 and over 5 years off the loan.
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