> In Australia, 35 year mortgages are normal,

Are they? I was under the impressions that 25-30 was normal now.

> $1700 per month pays off a $350k loan in 17 years, does it not?

Noooo. Have a play with this Australian mortgage calculator - https://www.commbank.com.au/digital/home-buying/calculator/h...

I think you might be in for a shock.

The example rate on the calculator is 5.35, about right when the base rate is 3.6 percent (though you can get lower), using that your $350k mortgage will take 40 years to pay off at $1700 per month. A $300k mortgage would take about 30 years. Or a $230k mortgage could be paid in your 17 years.

None of these loan amounts will get you anywhere close to a house in Australia today. You're looking around $1 million for the average house in most of the capital cities, with very few available under about the $650k mark.