OwnerCost

Australia · Mortgage

What owning this actually costs each month

Principal-and-interest loan. Duty is by state. LMI is an upfront premium, not a US-style monthly PMI.

Set a shorter payoff to fill the extra payment.

Example with the default inputs. Change any field to recalculate.

Estimated owner cost: $4,013 a month

That is 37.0% of gross monthly income. This is a calculation, not a lender assessment or a recommendation.

Monthly owner cost
$4,013

P&I $3,753 · insurance $140 · strata / council rates $120
Loan $600,000 · LTV 80.0%

Extra $0/mo
$0

Interest saved · payoff 30.0 yrs · 0 months sooner

Cash to close
$177,937

Deposit $150,000 + closing costs $27,937

Day-one cash breakdown
Deposit$150,000
NSW transfer duty$27,937
  • NSW general transfer duty (2026/27 thresholds).
10-year cash comparison

Deposit, closing costs and 120 months of owner cost: $659,501. 120 months of rent starting at $2,800 and rising 3% a year: $385,186.

OwnerCost assumptions: a 10-year period and 3% annual rent growth. This counts cash paid on the regular schedule only — extra principal is not included — and it ignores the equity you build, changes in the home's value, selling costs and what the deposit could earn elsewhere — so it does not say whether buying or renting is better.

30-year vs 15-year
30-year15-year
P&I / month$3,753$5,194
Total interest$751,093$334,869
Extra / month on the 30-year to finish in 15$1,441

OwnerCost sheet

Australia · https://ownercost.com/au/mortgage/
Price $750,000 · down $150,000 · 6.4% · 30 years
Owner cost $4,013 (P&I $3,753)
Extra $0/mo · paid off in 30.0 years · interest saved $0
Cash to close $177,937
Registry OC-MTG 2.1.0. Planning estimate, not an offer of credit.

What this includes

Pick NSW, VIC or QLD and your buyer type. Other states are not in this version. LMI is an illustrative estimate; your lender's insurer sets the real premium.

How we calculate

Monthly rate = quoted nominal annual rate ÷ 12. Payment = P·i / (1 − (1 + i)^−n) over n months. Owner cost = principal and interest + insurance + strata or council rates. Cash to close = deposit + state duty + LMI when the deposit is under 20% (illustrative bands, 1%–4% of the loan). The 10-year cash comparison uses two OwnerCost assumptions — a 10-year period and rent rising 3% a year — and counts cash paid on the regular schedule only (the extra-principal input is not included); it is not a buy-or-rent recommendation. Principal and interest are counted only until the loan is repaid (at most 120 months), so a term shorter than 10 years adds no payments after payoff; insurance, property tax and building or owners' fees continue for all 120 months; mortgage insurance stops when its own rule ends it and never after the loan does.

Official sources

Rules checked against these sources on 24–25 September 2026.