About $3,595 a month at a 6% example rate over 30 years. The lender tests you at about $4,830, which on our calculator assumptions needs about $133,000 of income for a single applicant or $144,000 combined.
A $600,000 loan is the middle of the Sydney first home market: a $630,000 apartment with a 5 per cent deposit under the 5% Deposit Scheme, or a $750,000 unit or semi with 20 per cent down.
Both prices sit under the $800,000 NSW duty exemption for first home buyers, which is why this loan size is so common. This page gives the repayment at several rates, the interest over the term, the income behind it, and the levers that change the monthly cost.
Part of the first home buyer loans guide.
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Charles at Links Property Finance made buying our first home so much easier than we expected. As first home buyers, we had a lot of questions around borrowing capacity, our deposit and the different government schemes available to us. Charles explained everything clearly, compared different lenders and kept us updated throughout the whole process. He was always easy to reach and made sure we understood what was happening from pre approval right through to getting our home loan approved. We would definitely recommend Links Property Finance to anyone looking for a mortgage broker, especially first home buyers who want someone to guide them through the process.
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Principal and interest, rounded. The example rate is 6%.
| 5%, 30 years | Monthly $3,220. Weekly $743. |
|---|---|
| 6%, 30 years | Monthly $3,595. Weekly $830. |
| 7%, 30 years | Monthly $3,990. Weekly $921. |
| 6%, 25 years | Monthly $3,865. Weekly $892. |
| 9%, 30 years (assessment rate) | Monthly $4,830. Weekly $1,114. |
| 6%, interest only | Monthly $3,000. Weekly $692. |
Illustration only. Rates depend on the lender, deposit and loan purpose. Figures exclude fees and LMI.
A $600,000 investment loan is assessed differently from a home loan. The lender adds part of the expected rent to your income, commonly around 80 per cent of it, and investment rates are often higher than rates for a home you live in.
An interest-only period lowers the repayment in the early years, but the full repayment applies when it ends, and lenders test you on that higher figure.
Negative gearing can soften the after-tax cost, though from 1 July 2027 only on new builds and properties already held on 12 May 2026; that is a question for your accountant. See investment loans and interest-only home loans.
An illustrative couple with $600,000 owing on a three-bedroom semi in an inner-west suburb come off a fixed rate onto their lender’s variable rate of 6.49%. Over 30 years, that repayment is about $3,790 a month.
Under the 5% Deposit Scheme, $600,000 of borrowing supports a purchase of about $630,000 with a deposit near $32,000 plus costs, no LMI and no NSW transfer duty for an eligible first home buyer.
With 10 per cent down the purchase is about $665,000, which triggers LMI without a guarantor. With 20 per cent down the loan supports $750,000 and the deposit is $150,000.
All three prices sit under the $800,000 duty exemption, so the stamp duty saving for a first home buyer is between about $22,500 and $28,000 compared with a non-first-home buyer at the same price.
The stamp duty calculator gives the figure for any price and the deposit calculator matches your savings to a purchase.
What each lever is worth on $600,000.
About $3,595 a month at a 6% example rate over 30 years, principal and interest. At 5% about $3,220; at 7% about $3,990. Interest-only at 6% is about $3,000.
Roughly $133,000 as a single applicant with no debts on our calculator assumptions, or about $144,000 combined for a couple. Children and commitments raise the figure; counted overtime or rent lowers it.
Yes, on our assumptions: a combined $150,000 with no debts and no children reaches about $625,000. A child or a car loan means a more generous lender or a smaller loan.
About $32,000 on a $630,000 purchase under the 5% Deposit Scheme, or $150,000 to avoid LMI on a $750,000 purchase without it. A guarantor can cover the gap.
About $695,000 over 30 years at 6%. A 25-year term cuts it to about $560,000 for about $270 a month more.
Yes, from about $133,000 of income on our assumptions with no other debts. Below that level the usual paths are a smaller purchase, a joint application, or rent from a property the buyer keeps counted toward the loan.
The repayments calculator handles any amount, and the $600,000 income guide works the income side in detail.
Charles prices a $600,000 loan with the lenders that suit your deposit and the property, and checks the income side with the same figures. Free, no credit check.
Prefer a callback?Charles calls back within one business day. No documents needed yet.
General information only, not credit or financial advice. The figures are illustrations built on stated assumptions, not a quote or an assessment of your position. Lender policy, rates and assessment rules change and differ between lenders. Links Property Finance holds an Australian Credit Licence authorisation and can assess your actual borrowing power.
Official sources for the figures on this page: Revenue NSW, First Home Buyers Assistance Scheme · Housing Australia, 5% Deposit Scheme. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.
