Interest-Only Mortgage Calculator
This interest-only mortgage calculator shows your monthly payment on an interest-only loan — and the full loan balance you'll still owe at the end of the term, since none of that payment reduces the principal. Enter your loan details to see both figures alongside what a standard repayment mortgage would cost instead.
How much you're borrowing.
The annual interest rate on the loan.
The length of the interest-only period.
Monthly interest-only payment
सेव करने के लिए लॉग इन करें$1,455
What you'll pay each month — none of it reduces the loan balance.
The full original loan amount — interest-only payments never reduce it.
For comparison — what you'd pay monthly on a standard repayment mortgage instead.
Frequently asked questions
Is an interest-only mortgage ever a good idea for a home I live in?+
It can work if you have a genuine, credible plan to repay the capital — a maturing investment, expected inheritance, or planned downsizing — but it carries real risk if that plan falls through, since you'll still owe the full amount with no equity built from payments.
Why are interest-only mortgages common for buy-to-let?+
Landlords often plan to repay the capital by selling the property or refinancing at the end of the term, and the lower monthly payment improves the rental income coverage ratio lenders require.
Can I switch from interest-only to repayment later?+
Often yes, subject to lender approval and affordability checks — your payment will rise significantly since it now needs to include principal, so plan the switch with your full budget in mind.
