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Interest Only Mortgage Calculator
Compare interest-only repayments with principal and interest, including what happens when the interest-only period ends.
Interest-only monthly repayment$3,095
P&I repayment after 5 years$3,826Higher, because the balance is repaid over a shorter remaining term.
P&I repayment from day one$3,555
Total interest (IO then P&I)$733,369
Total interest (P&I from start)$679,793
P&I from day one
Interest only first
Interest-only rates are usually higher than principal & interest. Lenders typically limit interest-only periods to 5 years for owner-occupiers.
This calculator provides general estimates only, based on the information you enter and the assumptions shown. It does not take into account your personal circumstances and is not an offer of credit. Lender policies, rates and fees vary. Speak to Start Finance for a personalised assessment.
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