An interest only mortgage is a type of mortgage where you only pay the interest each month, and not the principal.
This means that your monthly payments will be lower than with a traditional mortgage, but you will still owe the full amount of the loan at the end of the term.
An interest only mortgage calculator can help you to determine whether an interest only mortgage is right for you.
It can also help you to compare the monthly payments on different types of mortgages. If you are considering an interest only mortgage, then an interest only mortgage calculator can be a valuable tool.
Calculators throughout the website are provided as a guide only.
Banks change their lending parameters and policies too frequently and therefore the outcome from the calculators, although provides good estimates, cannot be relied upon for accuracy.
Our experts will walk you through the process and take out the leg work
Want to buy a home
