Source · MoneySmart
Open the original Interest-only mortgage calculator on MoneySmart
Open Loans Calculator
Interest-only mortgage calculator
Compare an interest-only home loan with a principal-and-interest alternative and see how the repayment jump can affect your budget later.
Best for
- Comparing lower early repayments with higher long-term cost
- Seeing the repayment jump before the interest-only period ends
- Stress-testing the post interest-only budget impact
Loan inputs
Start with the same input shape MoneySmart exposed, but keep the logic native to Open Loans.
Results
Compare the interest-only structure against an equivalent principal-and-interest loan.
You will pay $51,918 more over the life of the loan with an interest-only structure.
After 5 years, your monthly will increase by $1,299.
Repayment path
Compare the interest-only path with the principal-and-interest option over time.
Interest-only loan
Year 25
Principal and interest
Year 25
Repayment timeline
Year-by-year view for product planning and UI reuse| Year | Interest-only loan | Principal and interest loan | Stage |
|---|---|---|---|
| 1 | $3,010 | $3,876 | Interest-only period |
| 2 | $3,010 | $3,876 | Interest-only period |
| 3 | $3,010 | $3,876 | Interest-only period |
| 4 | $3,010 | $3,876 | Interest-only period |
| 5 | $3,010 | $3,876 | Interest-only period |
| 6 | $4,309 | $3,876 | Principal and interest |
| 7 | $4,309 | $3,876 | Principal and interest |
| 8 | $4,309 | $3,876 | Principal and interest |
| 9 | $4,309 | $3,876 | Principal and interest |
| 10 | $4,309 | $3,876 | Principal and interest |
| 11 | $4,309 | $3,876 | Principal and interest |
| 12 | $4,309 | $3,876 | Principal and interest |
| 13 | $4,309 | $3,876 | Principal and interest |
| 14 | $4,309 | $3,876 | Principal and interest |
| 15 | $4,309 | $3,876 | Principal and interest |
| 16 | $4,309 | $3,876 | Principal and interest |
| 17 | $4,309 | $3,876 | Principal and interest |
| 18 | $4,309 | $3,876 | Principal and interest |
| 19 | $4,309 | $3,876 | Principal and interest |
| 20 | $4,309 | $3,876 | Principal and interest |
| 21 | $4,309 | $3,876 | Principal and interest |
| 22 | $4,309 | $3,876 | Principal and interest |
| 23 | $4,309 | $3,876 | Principal and interest |
| 24 | $4,309 | $3,876 | Principal and interest |
| 25 | $4,309 | $3,876 | Principal and interest |
Loans, credit and debt
More tools beyond Interest-only mortgage calculator
Credit card calculator
Estimate how long it will take to pay off your card and how much interest you could pay.
Interest-free deal calculator
Check the true cost of an interest-free offer once fees are included.
Mortgage calculator
Calculate home loan repayments, borrowing power and payoff time.
Mortgage switching calculator
Compare refinancing costs against the savings you could make by switching.
Net worth calculator
Add up your assets and debts to see where you stand today.
Payday loan calculator
See the real cost of a payday loan, including fees and repayments.
Personal loan calculator
Estimate repayments, borrowing costs and loan payoff time.
Rent vs buy calculator
Compare the cost of renting, buying outright or borrowing instead.
Account-based pension calculator
Estimate withdrawals, minimum payments and how long your pension balance may last.
Budget planner
Map your income, bills, spending and savings in one place.