Loan Guide
Mortgage Repayments on $600,000 (2026)
Monthly repayments on a $600,000 home loan are $3,792 at 6.5% over 30 years. Over the life of the loan, you'll pay $765,267 in interest, bringing the total cost to $1,365,267.
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Monthly repayment $3,792 at 6.5% over 30 years
Repayments at Different Rates
How repayments on $600,000 change with interest rate, all at 30-year term:
| Rate | Monthly | Fortnightly | Weekly | Total Interest | Total Cost |
|---|---|---|---|---|---|
| 5.0% | $3,221 | $1,486 | $743 | $559,535 | $1,159,535 |
| 5.5% | $3,407 | $1,572 | $786 | $626,424 | $1,226,424 |
| 6.0% | $3,597 | $1,659 | $830 | $695,029 | $1,295,029 |
| 6.5% | $3,792 | $1,750 | $875 | $765,267 | $1,365,267 |
| 7.0% | $3,992 | $1,842 | $921 | $837,053 | $1,437,053 |
| 7.5% | $4,195 | $1,935 | $968 | $910,303 | $1,510,303 |
| 8.0% | $4,403 | $2,031 | $1,015 | $984,931 | $1,584,931 |
Repayments by Loan Term
How the term length affects your repayments and total cost on a $600,000 mortgage at 6.5%:
| Term | Monthly | Total Interest | Total Cost |
|---|---|---|---|
| 15 years | $5,227 | $340,796 | $940,796 |
| 20 years | $4,473 | $473,625 | $1,073,625 |
| 25 years | $4,051 | $615,373 | $1,215,373 |
| 30 years | $3,792 | $765,267 | $1,365,267 |
Key Facts
You'll pay 128% extra in interest On a $600,000 mortgage at 6.5% over 30 years, total interest is $765,267 — that's 128% on top of the principal.
Estimated salary needed: $151,680 Using the standard 30% serviceability ratio, you'd need a gross income of approximately $151,680 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.
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Frequently asked questions
How much are repayments on a $600k mortgage?
At 6.5% over 30 years, monthly repayments on a $600,000 mortgage are $3,792. Fortnightly repayments would be $1,750.
How much interest do you pay on a $600k mortgage?
Over 30 years at 6.5%, you'd pay $765,267 in total interest on a $600,000 mortgage. That's 128% of the original loan amount. The total cost including principal is $1,365,267.
Can I afford a $600k mortgage?
Using the common 30% serviceability rule, you'd need a gross salary of approximately $151,680 to comfortably afford repayments of $3,792/month on a $600,000 mortgage at 6.5%. Lenders may assess at higher stress-test rates.
Is a 15 or 30 year mortgage better for $600k?
A 15-year term on $600,000 at 6.5% costs $5,227/month but saves $424,471 in interest compared to 30 years. The 30-year option has lower repayments of $3,792/month but costs $1,365,267 total.
Should I pay fortnightly on a $600k mortgage?
Paying fortnightly effectively makes 26 half-payments per year (equivalent to 13 monthly payments instead of 12). On a $600,000 mortgage, this can shave years off the loan and save tens of thousands in interest.
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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