$300,000 Mortgage at 5%

See exactly what you'll pay on a $300,000 home loan at 5% interest. Monthly, fortnightly, and weekly repayments with total interest and savings tips.

Last verified: 1 July 2025

Monthly repayments on a $300,000 mortgage at 5% over 30 years: $1,610.46

Monthly

$1,610.46

Fortnightly

$743.29

Weekly

$371.65

Total cost over 30 years

$579,767

Principal $300,000 + Interest $279,767

Total interest paid

$279,767

93% of the loan amount

25-Year vs 30-Year Term

	25 years	30 years	Difference
Monthly repayment	$1,753.77	$1,610.46	+$143.31/mo
Total interest	$226,131	$279,767	Save $53,636
Total repaid	$526,131	$579,767	Save $53,636

What If Rates Change?

Rate	Monthly	Fortnightly	vs current
4.5%	$1,520.06	$701.56	-$90.41/mo
5%(current)	$1,610.46	$743.29	—
5.5%	$1,703.37	$786.17	+$92.90/mo
6%	$1,798.65	$830.15	+$188.19/mo
6.5%	$1,896.20	$875.17	+$285.74/mo

Income Needed

You'd need a household income of approximately $64,419/year ($5,368/month) to comfortably afford this mortgage using the 30% rule — where no more than 30% of your gross income goes toward housing costs.

Extra Repayment Impact

Paying an extra $100/week on your $300,000 mortgage:

Saves $115,650 in interest
Pays off your loan 11.1 years sooner

Fortnightly vs Monthly Trick

Paying $805.23 fortnightly (half the monthly repayment) instead of $1,610.46 monthly means you make 26 half-payments per year — equivalent to 13 monthly payments instead of 12.

Interest saved: $51,492
Time saved: 4.7 years

Frequently Asked Questions

How much are repayments on a $300,000 mortgage?

At 5% over 30 years, monthly repayments on a $300,000 mortgage are $1,610.46. Fortnightly repayments are $743.29 and weekly repayments are $371.65.

What income do I need for a $300,000 mortgage?

Using the 30% rule (no more than 30% of gross income on housing), you would need a household income of approximately $64,419 per year to comfortably afford a $300,000 mortgage at 5%.

How much interest will I pay on $300,000 over 30 years?

At 5%, the total interest on a $300,000 mortgage over 30 years is $279,767. The total amount repaid would be $579,767.

What if interest rates rise above 5%?

If rates rise by 1% to 6%, monthly repayments on a $300,000 mortgage increase to $1,798.65 — an extra $188.19 per month.

Other Mortgage Amounts

$200K mortgage $250K mortgage $350K mortgage $400K mortgage $450K mortgage

Other Interest Rates

$300,000 at 4%$300,000 at 4.5%$300,000 at 5.5%$300,000 at 6%$300,000 at 6.5%$300,000 at 7%$300,000 at 7.5%$300,000 at 8%

General information and estimates only — not financial, tax, or legal advice. Always verify with a licensed adviser or the ATO.

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