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At the current average variable rate of 6.22%, monthly repayments on an $800,000 home loan are:30-year term: $5,067/month (P&I)25-year term: $5,412/month (P&I)Interest-only: $4,347/monthAt $5,067/month, this represents a significant household expense. Dual-income households handl
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $5,067/mo | $4,347/mo |
| 25 years | $5,412/mo | — |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
Typically $130,000–$155,000 gross annual income for a single applicant, or combined $130,000+ for joint applicants with low debts. At this level, lending criteria become stricter and expenses are scrutinised more closely.
Yes. With median house prices around $1.15M in Sydney and $800K in Melbourne (2026), loans of $700K–$900K are standard for house purchases in both cities, particularly for dual-income households.
Switching from monthly ($5,067) to fortnightly ($2,534 every two weeks) saves approximately $197,000 in interest and takes 5 years off a 30-year loan. This is one of the easiest and most effective savings strategies.
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