5 Mortgage Repayments Tables 2026

Uncategorized

What Would My Mortgage Repayments Be? Property Repayment Guide 2026

June 18, 2026

Understanding your mortgage repayments is the foundation of every property purchase decision. Whether you’re a first-home buyer or seasoned investor, knowing exactly what you’ll pay weekly and monthly determines what you can afford, how much deposit you need, and whether a property fits your budget. This comprehensive guide provides exact repayment figures for every common loan size at 2026 interest rates, plus the critical variables that change your repayment amount and the true weekly cost of property ownership.

Monthly Mortgage Repayments Table 2026 (Principal and Interest, 30 Years)

At 6.2% interest rate (average owner-occupier rate, mid-2026):

$400,000 loan: $2,447/month ($565/week)
$500,000 loan: $3,058/month ($706/week)
$600,000 loan: $3,670/month ($847/week)
$700,000 loan: $4,282/month ($989/week)
$800,000 loan: $4,893/month ($1,130/week)
$1,000,000 loan: $6,116/month ($1,412/week)
$1,200,000 loan: $7,340/month ($1,694/week)
$1,500,000 loan: $9,175/month ($2,117/week)

These figures assume a standard principal and interest loan over 30 years. Your actual repayment will vary based on your lender’s rate, loan structure, and the variables outlined below.

Key Variables That Change Your Mortgage Repayments

Interest Rate Impact

Every 0.5% movement in your interest rate changes mortgage repayments by approximately $30/month per $100,000 borrowed. On a $700,000 loan, a rate increase from 6.2% to 6.7% adds $210/month ($2,520/year) to your repayment. This is why rate comparison and timing matter when securing finance.

Loan Term: 25 Years vs 30 Years

Shortening your loan term from 30 years to 25 years increases monthly repayments by approximately 18%, but you’ll save five years of interest payments and build equity faster. A $600,000 loan at 6.2% costs $3,670/month over 30 years, but $4,313/month over 25 years (a difference of $643/month). However, the 25-year loan saves approximately $115,000 in total interest paid.

Interest Only vs Principal and Interest

Interest-only (IO) repayments are 25 to 30% lower than principal and interest repayments, making them attractive to investors focused on cash flow. However, you build zero equity during the IO period and face a payment shock when the IO term ends (typically 3 to 5 years) and you must start repaying principal. A $700,000 IO loan at 6.2% costs approximately $3,617/month (interest only), compared to $4,282/month for principal and interest.

Offset Account Benefits

Every $10,000 held in a 100% offset account saves approximately $620/year in interest at 6.2%. An offset account linked to your home loan reduces the balance on which interest is calculated, lowering your effective interest cost without changing your contractual repayment amount. This allows you to pay off your loan faster while maintaining liquidity.

Investor vs Owner-Occupier Rates

Investment loan rates are typically 0.3% to 0.7% higher than owner-occupier rates due to perceived higher risk. On a $700,000 investment loan at 6.7% (vs 6.2% owner-occupier), the repayment difference is approximately $245/month. This difference must be factored into your rental yield calculation. If you’re deciding between positively or negatively geared property, the rate differential directly impacts cash flow.

The True Weekly Cost of Property Ownership

Your mortgage repayments are only one component of total property ownership cost. Add the following weekly expenses to calculate your true cost:

Council rates: $40 to $60/week ($2,000 to $3,000/year)
Water rates: $20 to $30/week
Building insurance: $20 to $40/week
Maintenance reserve: $50 to $100/week (budget 1% of property value per year)
Property management (if investment): $70 to $120/week (7 to 9% of rent)
Strata fees (if applicable): $50 to $200/week for apartments

On a $700,000 owner-occupier property with a $560,000 loan (20% deposit), your total weekly cost is approximately $1,200 to $1,400 when all expenses are included, not just the $989/week mortgage repayment.

How to Calculate Your Exact Mortgage Repayments

Use the Collings GeeVee-powered mortgage calculator to model your exact repayment with your loan amount, interest rate, loan term, and repayment frequency. The calculator shows monthly and weekly repayments, total interest paid over the loan term, and lets you compare principal and interest vs interest-only structures.

Access the free mortgage calculator at collings.com.au/portal

Strategies to Reduce Your Mortgage Repayments

Refinancing for a Lower Rate

If your current rate is above market average, should I refinance my mortgage may be worth exploring. Refinancing from 6.7% to 6.2% on a $700,000 loan saves $245/month. However, factor in refinancing costs (typically $1,500 to $3,000) and discharge fees from your current lender.

Making Fortnightly Repayments

Switching to fortnightly repayments (half your monthly amount, paid every two weeks) results in 26 half-payments per year, equivalent to 13 monthly payments instead of 12. This extra payment reduces a 30-year loan term by 3 to 4 years and saves tens of thousands in interest, with no lifestyle change required.

Increasing Repayments by Small Amounts

Increasing your repayment by just $100/month can shave years off your loan term. On a $600,000 loan at 6.2%, paying $3,770/month instead of $3,670/month reduces the loan term from 30 years to 27 years and saves approximately $23,000 in interest.

Frequently Asked Questions

What is the repayment on a $600,000 mortgage?

At 6.2% over 30 years, a $600,000 mortgage costs approximately $3,670/month or $847/week (principal and interest). At 6.5%, the repayment increases to $3,792/month. These figures are based on standard principal and interest loans.

How much do I save by making fortnightly repayments?

Fortnightly repayments result in one extra full monthly payment per year. This reduces a 30-year loan term by 3 to 4 years and can save $30,000 to $50,000 in interest on a typical $600,000 loan, depending on your interest rate.

Can I afford a $1M property?

With a 20% deposit ($200,000), your loan is $800,000, requiring approximately $4,893/month at 6.2%. Lenders typically require your total monthly debt repayments (including this mortgage) to be no more than 30% to 35% of your gross monthly income. To comfortably service this loan, you’d need a gross household income of approximately $14,000/month ($168,000/year).

Should I choose a fixed or variable rate?

Fixed rates provide repayment certainty for 1 to 5 years but typically carry higher rates than variable loans and limit flexibility (offset accounts, extra repayments). Variable rates fluctuate with the Reserve Bank of Australia interest rate data but offer full offset and redraw benefits. Many borrowers split their loan 50/50 between fixed and variable to balance certainty and flexibility.

What is the minimum deposit required?

Most lenders require a minimum 5% deposit, but you’ll pay Lenders Mortgage Insurance (LMI) on deposits below 20%. LMI on a $600,000 loan with a 10% deposit ($60,000) typically costs $15,000 to $20,000, added to your loan. A 20% deposit ($120,000) avoids LMI entirely.

Next Steps: Calculate Your Repayments and Plan Your Purchase

Use the repayment tables and calculator to model different loan amounts, rates, and terms. Factor in all ownership costs, not just the mortgage. Compare your total weekly cost to your income and rental yield (for investment properties) to ensure the property fits your budget. Consult with Australian Government financial guidance resources or a mortgage broker to explore loan structures and lender options that minimise your repayment cost while maximising flexibility.