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March 8, 2019

What are the monthly repayments on a new home?

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Your monthly repayments depend on a number of factors, including;

  • How much you borrow test
  • The interest rate
  • The type of loan – variable or fixed?*
  • The length or ‘term’ of your loan
  • Your repayment frequency (eg fortnightly or monthly)
  • Whether you’re making ‘principal and interest’ or ‘interest only’ repayments.

*A variable rate loan means payments go up and down depending on the Australian interest rate. A fixed rate loan means your repayments are fixed for a certain period of time