Interest-only mortgage calculator

Calculate your repayments both during and after the interest-free term.
Frequently Asked Questions
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How do I use the interest-only home loan calculator?
Here is the data you'll need to enter into the calculator:
Loan amount
Interest rate
Loan term
Repayment frequency
Interest-Only Period
Loan Fee
The calculator can help you figure out how much money you save with an interest-only loan and how much you'll pay in principal and interest when the interest-only period ends. You'll have more control over your mortgage repayments and cash flow as a result of this.
Why would you take an interest-only home loan?
How would an interest-only home loan benefit you if you are only servicing the interest and not paying off the principal?
Your goals and objectives will decide this. There are a few reasons why only using interest is a good idea.
The goal of the investment - To maximize their tax benefit, investors often want their loans to be interest-only (tax-deductible interest).
Boost your cash flow - Because you are simply paying interest, your monthly payments will be cheaper than if you were paying principal and interest.
Other possibilities for investment - Lower repayments mean more money in the bank, which investors can put toward other investments.
Paying off non-deductible debt - Some debtors have a loan that they want to pay off first because they own their home. Borrowers who take out interest-only loans will have more cash flow, allowing them to use it to pay down their owner-occupied loan first.
If you're considering an interest-only loan for whatever reason, make sure you get professional guidance first.
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