Calculate Your Interest-only Mortgage Payments with Ease

Are you thinking about an interest-only mortgage? It’s a popular choice for those seeking lower initial payments, as it allows you to purchase expensive property or free up cash for other goals. 7 Mortgages has an interest-only mortgage calculator that can help you understand its potential benefits. Armed with this knowledge, you can make more informed decisions.

What Is an Interest-only Mortgage?

An interest-only mortgage lets you only pay the interest on your loan each month, minus the principal. This can result in lower monthly payments compared to a traditional mortgage. However, you’ll need to have a plan in place to repay the principal at the end of the term. An interest-only calculator can help as it will provide the correct balance you’ll have to clear.

Start Planning Today with 7 Mortgages!

Use our interest-only loan calculator to see how much your monthly payments could potentially be. This makes home financing much easier and beneficial for you. For personalised advice, call us on 0413 277 413 / 03 9544 2642 or email us at admin@7mortgages.com.au. We’re based in Melbourne and ready to assist with all your mortgage needs.