About $3,000 a month at a 6% example rate over 30 years, principal and interest. A lender tests you at closer to $4,025, which is why the income needed is higher than the repayment suggests.
Five hundred thousand dollars is the loan behind many first apartments in Sydney and many houses outside it: a $525,000 purchase with a 5% deposit under the 5% Deposit Scheme, or a $625,000 purchase with 20% down.
The repayment is only one of three numbers that matter. The second is the repayment at the assessment rate, which decides whether a lender will approve the loan.
The third is the income that produces enough surplus to cover it, which on our calculator assumptions is about $112,000 for a single applicant.
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Had a really good experience with Charles at Links Property Finance. He was easy to deal with, always quick to respond and kept everything simple and clear throughout the whole process. You can tell he genuinely cares about getting the best outcome for his clients rather than just getting things done quickly. Really happy with the experience and would happily recommend Charles and Links Property Finance to anyone.
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Principal and interest, rounded to the nearest $5. The example rate is 6%; the others show what a 1% move does.
| 5%, 30 years | Monthly $2,685. Weekly $619. |
|---|---|
| 6%, 30 years | Monthly $3,000. Weekly $692. |
| 7%, 30 years | Monthly $3,325. Weekly $768. |
| 6%, 25 years | Monthly $3,220. Weekly $743. |
| 9%, 30 years (assessment rate) | Monthly $4,025. Weekly $928. |
| 6%, interest only | Monthly $2,500. Weekly $577. |
Illustration only. Your rate depends on the lender, the loan size, the deposit and the loan purpose. Figures exclude fees and LMI.
At $500,000 the borrower is often either a couple buying a first unit or townhouse, or a single buyer on a solid salary. See buying with a partner.
For a couple, the loan is usually comfortable on two moderate incomes, and the bigger questions are the deposit and how the title is held.
For a single buyer, the lender’s living-cost benchmark and any HECS debt take a larger share of one income, so the same loan can sit close to the limit. See HECS and home loans.
An illustrative couple buying their first home choose a new two-bedroom townhouse in a south-western growth suburb for $550,000.
They put in $40,000 of savings and the $10,000 First Home Owner Grant, which applies to new homes up to $600,000 and, for a home bought off the plan, is paid at settlement.
With a 5% deposit under the 5% Deposit Scheme, $500,000 of borrowing supports a purchase of about $525,000 and the deposit is roughly $26,000 plus legal and inspection costs. With a 20% deposit the same loan supports a $625,000 purchase, and the deposit is $125,000.
The scheme means no LMI, and in NSW a first home buyer pays no transfer duty under $800,000.
Each lever is worth a different amount.
About $3,000 a month at a 6% example rate over 30 years, principal and interest. At 5% it is about $2,685, and at 7% about $3,325. Interest-only at 6% is about $2,500.
Roughly $114,000 as a single applicant with no debts on our calculator assumptions, or about $126,000 combined for a couple. Lenders differ, and commitments or dependants raise the figure.
About $26,000 on a $525,000 purchase under the 5% Deposit Scheme, or $125,000, 20 per cent, on a $625,000 purchase to avoid LMI without the scheme.
About $579,000 at 6%, which is more than the amount borrowed. Extra repayments, an offset account and a shorter term all cut it substantially.
Usually, if you earn about $114,000 as a single applicant on our calculator assumptions: lenders test your surplus against about $4,025 a month at the assessment rate, not the actual repayment.
Usually yes. A purchase under $800,000 in NSW is exempt from transfer duty for an eligible first home buyer, and the 5% Deposit Scheme applies up to $1.5 million in Sydney with no income caps.
Use the repayments calculator for any amount and rate, and the offset savings calculator to see what savings in offset do to the term.
Charles prices the loan with the lenders that suit you, shows the repayment at today’s rates rather than an example, and checks the income side at the same time. 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 · Revenue NSW, First Home Owner (New Homes) Grant. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.
