Repayments on a $500,000 home loan — New Zealand

At 6% over 30 years:

• Monthly repayment: $2,998
• Total interest: $579,191
• Total repaid: $1,079,191
• Paying $200 extra a month saves: $103,145 and 4 years

Frequently asked questions

What are the repayments on a $500,000 mortgage?

At 6% over 30 years, about $2,998 a month. Over the full term you would pay roughly $579,191 in interest on top of the $500,000 borrowed.

How much interest do you pay on a $500,000 loan?

About $579,191 over 30 years at 6% — bringing the total repaid to around $1,079,191.

What if I pay a bit extra each month?

Adding $200 a month would save about $103,145 in interest and clear the loan roughly 4 years earlier.

See interest-only repayments on the same loan

Estimate only. Assumes a fixed rate and no fees; lenders accrue interest daily and may charge account or discharge fees. Not financial advice.