Source: MoneySmart
Open the original Interest-only mortgage calculator on MoneySmart
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 |
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