P&I / Interest Only Calculator
Curious to know how your mortgage repayments will be affected on Principal & Interest (P&I) compared to Interest Only? Or, maybe you need to find out the total cost of an interest-only loan over the full loan term. The P&I and Interest Only calculator is your one-stop shop to crunch your repayment costs!
The P&I and Interest Only Calculator is here to help you decide which repayment type is right for you and your budget.
As a general guide:
- Paying P&I will help you pay off the mortgage sooner, ideal for those who want to own a home outright.
- Interest Only loans are popular among investors, who are looking to maximise cash flow and return on investment.
If you have any questions or you’re ready to borrow, give a Reduce Home Loans broker a call.