Repayments
$2,959 a month at the best rate on the panel. $3,157 at the middle rate.
That is principal and interest over 30 years at 5.88%. It is the lowest comparison rate across the 33 lenders 1st Street works with, priced 21 August 2026. The middle lender charges 6.49%. On this loan that is $198 a month more, and $71,196 more over 30 years. Your repayment depends on your rate, so the table below has every rate from 5% to 7.5%.
Find your rate on your statement. The green row is the best rate on the panel.
| Rate | Monthly | Fortnightly | Weekly | Total interest |
|---|---|---|---|---|
| 5.00% | $2,684 | $1,238 | $619 | $466,279 |
| 5.50% | $2,839 | $1,310 | $655 | $522,020 |
| 5.88% · People First Bank | $2,959 | $1,365 | $682 | $565,343 |
| 6.00% | $2,998 | $1,383 | $691 | $579,191 |
| 6.50% | $3,160 | $1,458 | $729 | $637,722 |
| 7.00% | $3,327 | $1,535 | $767 | $697,544 |
| 7.50% | $3,496 | $1,613 | $806 | $758,586 |
Principal and interest, $500,000 over 30 years, no offset. Weekly and fortnightly are the monthly amount split up, the way most lenders do it.
A shorter term costs more each month and much less overall. Look at both before you refinance onto a new 30 years.
| Rate | Monthly, 30 yrs | Monthly, 25 yrs | Interest, 30 yrs | Interest, 25 yrs |
|---|---|---|---|---|
| 5.88% · Best on panel (People First Bank) | $2,959 | $3,185 | $565,343 | $455,479 |
| 6.49% · Middle of panel | $3,157 | $3,373 | $636,539 | $511,874 |
| 7.26% · Highest on panel | $3,414 | $3,617 | $729,138 | $585,177 |
Borrow more than 80% of the price and you pay LMI once, and a higher rate while you stay above 80%. Here are both costs on this loan.
| LVR | Deposit | Rate | Monthly | Extra a month | LMI, once |
|---|---|---|---|---|---|
| 80% | $125,000 | 5.88% | $2,959 | — | — |
| 90% | $55,556 | 6.18% | $3,056 | $97 | about $9,250 |
| 95% | $26,316 | 6.68% | $3,220 | $261 | about $17,000 |
On $500,000 a 90% loan costs about $97 a month more than an 80% loan, before LMI. Most people take about five years to get back under 80%. That is $5,820 in extra interest, about the same as the LMI itself. The 90% and 95% rates are the best rate on the panel plus the step most lenders add at that LVR (+0.30 and +0.80), priced 23 August 2026. LMI is an estimate from the insurers’ published bands. Your lender’s figure will differ. Each lender’s own step is on the rate monitor.
Each lender’s own calculator, run on the same household.
On 21 August 2026, 33 of the 33 lenders on the panel said they would lend $500,000 or more to the same household: $244,000 a year before tax, $5,200 a month in living costs, no other debts. The others stopped below it. That is why two people with the same payslip get different answers. The real question is which lenders say yes, and what they charge. A broker at 1st Street runs the same calculators on your numbers.
The rate
Every 0.5% on $500,000 is about $155 a month. The panel goes from 5.88% to 7.26%. So two people with the same loan can pay $455 a month apart.
The term
A new 30-year term makes the repayment smaller and the total interest bigger. Keeping your old end date does the opposite. Ask for the years you have left, not a new 30.
The deposit
Under 80% LVR, a bigger deposit barely changes the rate. Over 80%, the rate steps up and you pay LMI. On $500,000 at 90% that is $97 a month, plus about $9,250 once.
$2,959 a month at 5.88%. That is the lowest comparison rate on the panel on 21 August 2026, over 30 years, principal and interest. At the panel median of 6.49% it is $3,157. Your figure depends on your rate. The table on this page has every rate from 5% to 7.5%.
$682 a week at 5.88% over 30 years, or $728 at the panel median of 6.49%. Weekly and fortnightly amounts are the monthly amount split up. They are not a discount. But a year has 26 fortnights, so paying half the monthly amount every fortnight pays one extra month a year. That shortens the loan.
$565,343 over 30 years at 5.88%, or $636,539 at 6.49%. Over 25 years it is $455,479 and $511,874. The rate matters most. On this loan, the gap between the best rate and the median rate is $71,196 of interest.
$3,056 a month at 6.18% over 30 years. That rate is the best on the panel plus the usual step lenders add at 90% LVR. It is $97 a month more than the same loan at 80% LVR. You also pay lenders mortgage insurance once, about $9,250. With a 5% deposit it is $3,220 a month at 6.68%, and about $17,000 of LMI.
Your spending and other debts matter as much as your income. Lenders also test you at about 3 points above the rate you would pay. On 21 August 2026, 33 of the 33 lenders on the panel said they would lend $500,000 or more to a household earning $244,000 before tax, spending $5,200 a month, with no other debts. Try your own numbers in the borrowing power calculator, or ask a broker to run the lenders' models on them.
Priced 12:00 pm AEST, 21 August 2026, re-priced monthly and after each RBA decision. Rates are comparison rates from that run, one product per lender, for an owner-occupied loan at 56% LVR. They are a guide and they change. The rate you get depends on your loan and your situation. Repayments use the same sum as the repayments calculator. Arthr Pty Ltd provides marketing and lead-generation services only; credit assistance is provided by 1st Street Pty Ltd, Credit Representative 490057 under Australian Credit Licence 389328.
The gap on this page is the gap on your loan. A broker at 1st Street can tell you which lenders would take you at the lower rate, and what it would cost to move.