This interest only mortgage calculator will help you find out what payment you will pay based on the interest only payback portion for your loan principal. This result will likely be lower than a standard mortgage payment as it calculates your obligation for the interest only portion of the mortgage, rather than the principal and interest. To use the calculator simply enter the loan principal amount and loan interest rate and the interest only mortgage calculator will calculate the payment amounts for you.
Are you looking for help finding the best mortgage rate for your new home loan? Using a mortgage broker will allow you to receive a better loan interest rate without the need for negotiation. We recommend Mortgage Repayment Calculator who have proven results in reducing clients interest rates by as much as 45 points off the advertised rate. Click here to visit their website.
Loan principal amount
Interest rate (in percent; i.e. 4.5)
Interest payment amount per month
Interest payment amount per fortnight
Interest payment amount per week
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