With a P&I loan, your regular repayments include both these elements. This means every time you pay, part of your repayment reduces the loan balance (the principal), while the other part covers the interest owed.
The type of loan you choose can make a big difference in your financial outcomes and long-term goals.
The Reserve Bank of Australia (RBA) has left interest rates on hold at 4.10%.
Will the RBA deliver another interest rate cut? For homeowners, property investors, and first-home buyers, this decision isn’t just about headlines, it directly impacts mortgage repayments, property affordability, and purchasing power.
The RBA has cut the official cash rate to 4.10%.
Market confidence is strong, with a 93% chance of a 0.25% rate cut on February 18, 2025.
Will we see a rate cut when the RBA meets in February for the first time in 2025?
Fixed-rate home loans offer security and predictability, but they aren’t always the right choice for everyone or every economic climate.
To calculate your loan serviceability, you can add up your income, subtract your expenses and debts, and then add your proposed monthly mortgage payment.
