Loan Guide
Mortgage Repayments on $300,000 (2026)
Monthly repayments on a $300,000 home loan are $1,896 at 6.5% over 30 years. Over the life of the loan, you'll pay $382,633 in interest, bringing the total cost to $682,633.
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Monthly repayment $1,896 at 6.5% over 30 years
Repayments at Different Rates
How repayments on $300,000 change with interest rate, all at 30-year term:
| Rate | Monthly | Fortnightly | Weekly | Total Interest | Total Cost |
|---|---|---|---|---|---|
| 5.0% | $1,610 | $743 | $371 | $279,767 | $579,767 |
| 5.5% | $1,703 | $786 | $393 | $313,212 | $613,212 |
| 6.0% | $1,799 | $830 | $415 | $347,515 | $647,515 |
| 6.5% | $1,896 | $875 | $437 | $382,633 | $682,633 |
| 7.0% | $1,996 | $921 | $460 | $418,527 | $718,527 |
| 7.5% | $2,098 | $968 | $484 | $455,152 | $755,152 |
| 8.0% | $2,201 | $1,016 | $508 | $492,466 | $792,466 |
Repayments by Loan Term
How the term length affects your repayments and total cost on a $300,000 mortgage at 6.5%:
| Term | Monthly | Total Interest | Total Cost |
|---|---|---|---|
| 15 years | $2,613 | $170,398 | $470,398 |
| 20 years | $2,237 | $236,813 | $536,813 |
| 25 years | $2,026 | $307,686 | $607,686 |
| 30 years | $1,896 | $382,633 | $682,633 |
Key Facts
You'll pay 128% extra in interest On a $300,000 mortgage at 6.5% over 30 years, total interest is $382,633 — that's 128% on top of the principal.
Estimated salary needed: $75,840 Using the standard 30% serviceability ratio, you'd need a gross income of approximately $75,840 per year to service this mortgage.
Fortnightly payments save interest Switching to fortnightly payments means 26 half-payments per year (equivalent to 13 monthly payments), which reduces total interest and shortens the loan.
Compare Nearby Amounts
| Loan Amount | Monthly | Total Interest | Total Cost |
|---|---|---|---|
| $300,000 | $1,896 | $382,633 | $682,633 |
| $350,000 | $2,212 | $446,406 | $796,406 |
Frequently asked questions
How much are repayments on a $300k mortgage?
At 6.5% over 30 years, monthly repayments on a $300,000 mortgage are $1,896. Fortnightly repayments would be $875.
How much interest do you pay on a $300k mortgage?
Over 30 years at 6.5%, you'd pay $382,633 in total interest on a $300,000 mortgage. That's 128% of the original loan amount. The total cost including principal is $682,633.
Can I afford a $300k mortgage?
Using the common 30% serviceability rule, you'd need a gross salary of approximately $75,840 to comfortably afford repayments of $1,896/month on a $300,000 mortgage at 6.5%. Lenders may assess at higher stress-test rates.
Is a 15 or 30 year mortgage better for $300k?
A 15-year term on $300,000 at 6.5% costs $2,613/month but saves $212,235 in interest compared to 30 years. The 30-year option has lower repayments of $1,896/month but costs $682,633 total.
Need a more detailed breakdown?
Our Mortgage Calculator lets you model stress tests, offset accounts, extra repayments, and compare refinancing scenarios.
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