Calculator

Interest Only Mortgage Calculator

What is Interest Only Mortgage Calculator Used for?

If you want to take an interest-only mortgage, you can use our interest-only mortgage calculator, which can help you calculate your regular payments. With the help of our calculator, you can have an estimation of the regular payments that you need to pay during and after the interest-only period. The estimation of regular payments will depend on the loan amount. It will help you work out the total interest rates on your mortgage and reduce the monthly repayments.

Interest-only loan plans can help reduce your financial burden because you have to make monthly repayments on your interest rates only for a specified time period. If you want to take an interest-only mortgage to reduce the monthly repayments, this interest-only mortgage calculator will work the best to help you make the right financial decision.

How to Use Interest-Only Mortgage Calculator?

If you want to calculate your monthly repayments, then input the information asked in the calculator:

Enter the loan amount you want to borrow for your home loan.
The mortgage provider will determine the interest rate on your loan.
The loan term is the time period within which you will repay your mortgage.
Loan fees are possible charges on your mortgage.
The interval of repayments will be defined in the repayment frequency which can be monthly, fortnightly or weekly which will be determined by the mortgage provider.
The interest-only period is the time duration for which you need to pay monthly interest rates on your loan.

The calculator will give you an estimation of monthly repayments, but if you want to know the exact monthly repayments, you can contact Star Homeloans.