$500,000 mortgage at 5% over 20 years — A$2,640/month
Monthly principal and interest repayments of A$2,640 over 20 years. Total interest paid: A$233,558. See how extra repayments can save you tens of thousands.
Extra monthly repayment
A$0/moWhat $500,000 mortgage at 5% over 20 years really costs
Your monthly repayment of A$2,640 covers both interest and principal. In the early years, the majority goes toward interest — in month 1, approximately A$1,667 is interest and only A$973 reduces the principal. This shifts gradually over 20 years.
Over the full 20-year term, you pay A$233,558 in interest — 58% of the loan amount. This is why extra repayments are so powerful: use the slider above to model the impact.
For a complete breakdown including stamp duty by Australian state, LMI estimates, and property tax, use the AU Mortgage Calculator. To understand how inflation affects your real repayment cost over time, see the Inflation Calculator.