Interest Only Calculator
Use the interest only calculator below to get an estimate on what the repayments may be on a home loan with a fixed term an interest only period.
An interest only loan is a loan where you only repay the interest on your loan for an agreed period of time, usually this is a maximum of 5 years. This means you do not reduce the amount you have borrowed for the first 5 years. Once your interest only period has finished, the loan will revert to principal and interest and you will begin to reduce the original amount borrowed as well as pay the interest. For more information on interest only loan terms, speak to one of our Mortgage Brokers today.
When you’re ready to get exact calculations on your specific needs, the Assured Lending mortgage brokers are here to do the sums for you. Contact us for a cost and obligation free chat to discuss your requirements in more detail. Your mortgage broker will calculate all the figures you need and they’ll also compare a wide choice of Australia’s leading lenders to find the most suitable home loan for you.
The above interest only calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative. MFAA