Calculate Your Monthly Payment
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Select a program to apply FHA/VA/USDA rules.
$
20.0% of home price
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%
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Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
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$
$
Extra payments reduce balance faster and can end PMI sooner.
Total Monthly Payment
$0
Principal & Interest • Tax • Insurance • PMI • HOA
Principal & Interest
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Property Tax
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Insurance
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PMI
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HOA
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Loan Amount
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Principal & Interest
Property Tax
Home Insurance
PMI
Total Interest Paid
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Total Principal + Interest
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| Year | Principal | Interest | Balance |
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Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
Australia Mortgage Costs at a Glance
Council Rates
$1,800
Annual Average
Median Home
$800,000
National Average
LMI Threshold
< 20%
Down Payment
Serviceability
+3.00%
APRA buffer
Mortgage Costs by City in Australia
Sydney
~$8,200/mo
Home Price
$1,350,000
Council & Ins.
~$350/mo
Est. Repayment (6.0% / 20% deposit)
~$7,500/mo
Melbourne
~$5,800/mo
Home Price
$920,000
Council & Ins.
~$300/mo
Est. Repayment (6.0% / 20% deposit)
~$5,200/mo
Brisbane
~$4,800/mo
Home Price
$750,000
Council & Ins.
~$280/mo
Est. Repayment (6.0% / 20% deposit)
~$4,200/mo
Australia First Home Owner Programs
First Home Guarantee (FHBG)
First Home Super Saver Scheme (FHSS)
State-Based First Home Owner Grants (FHOG)
Understanding Australian Mortgages
Australia's mortgage market operates heavily on variable rates, though 1- to 5-year fixed periods are common. Lenders Mortgage Insurance (LMI) is required if your deposit is under 20%, but unlike the US PMI, it is typically a single upfront premium capitalized into the loan. State governments heavily tax property purchases via Stamp Duty, which can significantly impact your upfront buying power.
Australia Mortgage FAQ
You need a deposit of at least 20% (LVR of 80% or below) to avoid LMI from standard lenders. Through the First Home Guarantee, eligible first home buyers can purchase with 5% deposit without paying LMI.
The Reserve Bank of Australia sets the cash rate, which directly influences variable home loans. A 0.25% rate rise on a $700,000 mortgage adds approximately $109/month to repayments.
An offset account is a transaction account linked to your mortgage. The balance is subtracted from your loan before interest is calculated. E.g. $600,000 loan with $50,000 offset — you only pay interest on $550,000.
The FHBG allows eligible first home buyers to purchase with 5% deposit without paying LMI. The government guarantees 15% of the loan value. Apply through a participating lender. Income caps: $125,000 singles, $200,000 couples.