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At the current average variable rate of 6.22%, monthly repayments on a $650,000 home loan are:30-year term: $4,117/month (P&I)25-year term: $4,397/month (P&I)Interest-only: $3,532/monthThe 25-year term adds $280/month but saves approximately $163,020 in total interest over the li
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $4,117/mo | $3,532/mo |
| 25 years | $4,397/mo | — |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
Yes — the average new home loan in Australia is around $600,000–$650,000 (2026). It's the standard range for houses in Melbourne's middle suburbs, Brisbane's inner ring, and apartments in Sydney.
Switching from monthly ($4,117) to fortnightly ($2,059 every two weeks) means one extra month's payment per year. This saves approximately $160,000 in interest and 5 years off a 30-year loan.
Yes. Two people earning $50,000 each ($100K combined) can typically service a $650,000 loan, provided debts are low. Two people on $60,000 each ($120K combined) would have comfortable servicing capacity.
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