Interest Only Calculator

This Interest Only Calculator is used by people that pay the Interest Only on a home loan. Many self employed people, or people who take out a home loan for investment purposes use this facility most home loan lenders offer.

Interest Only Home Loans
A very simple calculator to use, this interest only calculator shows you the monthly repayments, the cost of the loan, and the total interest payable back to a bank or home loan lender.

Remember that when you are just paying the interest component on Home Loans, you still owe the principal back, and is often payed off when the property is sold. Many people that have rental properties use this calculator to work out what the cost of the home loan will be, and knowing how much rent you are charging your tennant, you will be able to see the gross profit you will make per month. It is a good idea to consult your Real Estate Agent for the expected rent you can charge prospective tennants.

This Interest Only Calculator however also allows you to compare the difference paying interest and principal will be for the same amount , Interest Rate, and Home Loan Term with the repayment frequency you choose; weekly fortnightly or monthly.

People who are paying interest only should prepare for the interest rate rises now, to correctly budget for the increase in costs of their Home Loans.

This is just one of the many Calculators we have to assist you make informed decisions, and be able to compare home loans and compare home loan lenders in Australia, as with the Home Loan Comparison Calculator.

Regardless of whether you are paying interest only, or principal and interest, you will need to calculate the right amount of Stamp Duty Australia wide so that the correct amount can be added to your home loan.