Interest-only mortgage calculator
This calculator helps you work out:
- the repayments before and after the interest-only period
- the total cost of an interest-only mortgage
- how much more you will pay with an interest-only mortgage
compared to a principal and interest loan
For detailed information see disclaimers &
Estimated time: 2 mins
Disclaimers & assumptions
- This is a model, not a prediction. Amounts and
repayment periods are estimates only, actual amounts may be higher
- Results are based on information you have provided and do not
take your personal circumstances into account.
- This calculator applies to loans which have an interest-only
period, then for the remaining period of the loan, both principal
(amount borrowed) and interest are repaid.
- Initial inputs will be displayed on the left hand side of the
- The graph displays the periodic repayments for an interest-only
loan and the repayments for a comparable principal and interest
loan with the same amount borrowed, interest rate, repayment
frequency and fees as the interest-only loan.
- This calculator is not intended to be your sole source of
information when making a financial decision. You may wish to
consider getting advice from a licensed finance professional.
- Using this calculator does not guarantee you will be eligible
for a loan. You will need to satisfy your lender's lending
- Interest rates do not change for the life of the loan.
- Interest is calculated by compounding on the same frequency as
the repayment selected, i.e. weekly, fortnightly, monthly quarterly
- It does not take into account up-front fees, such as loan
- It does not consider your ability to make the repayments shown.
To help you consider the impact of interest rates changes, we
suggest exploring the impact of a 2% interest rate rise. Interest
rates could rise in future by more than 2%.
- Affordable repayments cannot be less than the fees
Last updated: 13 Feb 2017