Mortgage Calculator Australia 2026: Repayments, Rates and Stamp Duty
March 2026 · 9 min read
Quick Answer
On an AU$600,000 mortgage at 6.2% over 30 years your monthly repayment is approximately A$3,664. The RBA cash rate in 2026 heavily influences variable rate mortgages. Fixed rates offer certainty for 1-5 years.
Australian Mortgage Repayment Chart (6.2% Rate)
Monthly repayment guide for common Australian mortgage amounts.
| Loan Amount | 20 Years | 25 Years | 30 Years |
|---|---|---|---|
| A$400,000 | A$2,955 | A$2,620 | A$2,443 |
| A$500,000 | A$3,694 | A$3,275 | A$3,053 |
| A$600,000 | A$4,432 | A$3,930 | A$3,664 |
| A$750,000 | A$5,541 | A$4,912 | A$4,580 |
| A$900,000 | A$6,649 | A$5,895 | A$5,495 |
| A$1,000,000 | A$7,388 | A$6,550 | A$6,106 |
Australian First Home Buyer Schemes 2026
The Australian government offers several schemes to help first home buyers.
| Scheme | Benefit | Eligibility |
|---|---|---|
| First Home Guarantee | Buy with 5% deposit, no LMI | Income under $125K single/$200K couple |
| First Home Owner Grant | $10,000-$30,000 cash grant | New homes, varies by state |
| Stamp Duty Concessions | Reduced or zero stamp duty | Varies by state and price |
| First Home Super Saver | Save deposit in super, tax savings | Up to $50,000 withdrawal |
| Help to Buy (proposed) | 40% government equity share | Subject to legislation |
Superannuation and Retirement in Australia
Australian superannuation is one of the world's best retirement systems. Employers must contribute 11.5% of your salary to super in 2026 rising to 12% from July 2025. You can also make voluntary contributions. Super grows tax-free inside the fund at a concessional tax rate of 15%. At retirement (age 60) withdrawals are tax-free. Use our retirement calculator to see how your super grows over time.
Calculate Your Australian Mortgage Free
Use our free mortgage calculator — select A$ Australian Dollar from the currency menu.
Calculate Mortgage →Frequently Asked Questions
What is the current home loan interest rate in Australia 2026?
Australian home loan rates in 2026 range from approximately 5.9% to 7.5% depending on loan type, LVR and lender. Variable rates from the major banks (CBA, Westpac, ANZ, NAB) average around 6.2-6.8%. Online lenders and smaller banks often offer lower rates.
What is LMI in Australia?
Lenders Mortgage Insurance (LMI) is required when your deposit is less than 20% of the property value. LMI protects the lender (not you) and can cost $10,000-$30,000 depending on the loan size and LVR. The First Home Guarantee allows eligible buyers to avoid LMI with just 5% deposit.
What stamp duty do I pay in Australia?
Stamp duty varies by state. On a $700,000 property: NSW approximately $27,220, VIC approximately $37,070, QLD approximately $17,325, WA approximately $24,366, SA approximately $30,280. First home buyers get concessions or exemptions in most states.
What is the First Home Owner Grant (FHOG) in Australia?
The FHOG varies by state. Most states offer $10,000-$30,000 for eligible first-time buyers purchasing new homes. Queensland offers $30,000 for new homes. Northern Territory offers $10,000. Always check current state government websites for the latest eligibility.
Should I choose a fixed or variable rate mortgage in Australia?
Variable rates in Australia have historically been lower long-term but carry rate rise risk. Fixed rates offer certainty. A split loan (part fixed, part variable) is popular as it provides certainty on part of the loan while allowing offset account benefits on the variable portion.