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 $900,000 home loan are:30-year term: $5,700/month (P&I)25-year term: $6,088/month (P&I)Interest-only: $4,890/monthThe 25-year term adds $388/month but saves approximately $225,600 in total interest — a saving
| Term | Monthly P&I | Monthly Interest-Only |
|---|---|---|
| 30 years | $5,700/mo | $4,890/mo |
| 25 years | $6,088/mo | — |
Based on average variable rate. Use our mortgage repayment calculator for an exact figure at your rate.
Typically $145,000–$175,000 gross annual income for a single applicant, or combined $145,000+ for joint applicants. HECS debt, credit cards, and car loans can significantly reduce your capacity at this level.
With $100,000 in an offset account, you'd effectively only pay interest on $800,000. Over 30 years, this saves approximately $305,000 in interest. Even $50,000 in an offset saves approximately $152,000.
This depends on your local market dynamics. In strong capital growth areas (5%+/year), buying builds equity faster than renting and investing. Use our Rent vs Buy calculator to model your specific scenario.
Use our free calculator to get personalised results based on your specific situation. No sign-up required.