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At the current average variable rate of 6.47%, monthly repayments on a $150,000 home loan are: 30-year term: $945/month (P&I), 25-year term: $1,011/month (P&I), Interest-only: $809/month. A 25-year term saves approximately $36,900 in total interest for just $66 more per month.
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $945/mo | $809/mo |
| 25 years | $1,011/mo | — |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
Approximately $35,000–$45,000 gross annual income for a single applicant. This is accessible on part-time or entry-level wages and falls well within First Home Guarantee income limits for most states.
With a 20% deposit on a $187,500 property: rural QLD (e.g. Roma, Kingaroy), regional SA, country TAS, and NT towns. Entry-level detached houses are available at this price point in many regional areas.
Yes. Switching from monthly ($945) to fortnightly ($473 every two weeks) effectively makes one extra month of repayments per year, saving approximately $47,000 in interest and nearly 5 years off the loan.
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