Principal & Interest / Interest Only mortgage calculator

P&I / Interest Only loan calculator

Use this mortgage calculator to work out the difference between principle-and-interest and interest-only loan payments. The how much can I borrow mortgage calculator might also be of interest to you.

Instructions

Select the repayment type. Enter the loan amount, interest rate and loan term. Select the payment frequency. The results will indicate how much your repayments will be, the total cost of the loan and the total amount you’ll pay in interest.

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Disclaimer: Calculator is not intended to be relied on for the purposes of making a decision in relation to a financial product. Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. Advice should be obtained from a financial services licensee before making financial decisions. Calculator does not assume changes in the cost of living over time. Default assumptions: For the purpose of this calculator, all months are assumed to be of equal length. One year is assumed to comprise 52 weeks and therefore 364 days (as opposed to the actual 365 days or 366 days).