Interest Only Mortgage Calculator
Compare interest only repayments against principal and interest so you can see the real trade off. Lower payments now mean a higher balance and higher repayments when the interest only period ends.
Use the interest only mortgage calculator
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting.
What the interest only mortgage calculator tells you
What it shows
Interest only repayments, the revised principal and interest repayment afterwards, and the additional interest paid overall.
What you need
Loan amount, interest rate, total term, and the length of the interest only period.
What to do next
We can assess whether interest only is appropriate for your situation and which lenders price it competitively.
Three things worth testing
- Model the repayment after the interest only period ends, not just during it.
- Interest only rates are usually higher than principal and interest rates.
- Lenders assess interest only applications more conservatively.
Frequently asked questions
Why are interest only repayments higher after the period ends?
Who is interest only suited to?
Turn the numbers into an approval
A calculator gives you an estimate. A broker gives you a lender, a rate and an approval. Talk to Ezy Loans Australia about what these numbers mean for your situation.
About the author
Amrinder Singh is the founder of Ezy Loans Australia and an Australian Credit Representative (number 505232) of Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294. He works with first home buyers, investors and self employed borrowers across Australia, arranging home loans, refinancing, construction finance and asset finance through a broad panel of lenders.
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting. Calculators are provided under licence from the Finance Brokers Association of Australia. This page is general information only and does not take your objectives, financial situation or needs into account.
Ezy Loans Australia is a Perth-based mortgage and finance brokerage helping first home buyers, investors and refinancers across Australia secure the right loan with confidence.
Contact Info:
- 905 Hay St, Perth WA 6000
- amrinder@ezyloansaustralia.com.au
- 0432 066 362