Interest-Only Mortgage Calculator
Interest-Only Mortgage Calculator
Compare interest-only repayments with principal and interest loans
Loan Details
Repayment Comparison
Total Cost Comparison
How interest-only loans work:
During the interest-only period, you only pay the interest charges. Your loan balance stays the same. After this period ends, your repayments increase significantly because you must pay both principal and interest over the remaining term.
Important: Interest-only loans typically cost more overall than principal and interest loans because you pay interest on the full loan amount for longer.
This calculator is for illustrative purposes only and does not constitute financial advice. Results are estimates based on the information provided. Please consult with a Ferns Finance broker for personalised advice.
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Are finance brokers regulated?
Yes, finance brokers are regulated to ensure they operate fairly and transparently. In many countries, brokers must be licensed and adhere to specific industry standards. This regulation helps protect consumers by ensuring that brokers act in their clients' best interests and provide accurate information.
Before working with a broker, it's advisable to verify their credentials and ensure they are compliant with local regulations.
Are there differences in borrowing power between Brisbane and Gold Coast properties?
Yes — location affects property values and lender risk profiles. We’ll assess your borrowing capacity based on the exact suburb you’re targeting.
Are there loans for building or renovating in Tamborine?
Yes, we can help with construction loans or renovation-specific personal loans. Even if you’re just upgrading a shed or adding a studio — we can find options.
Can I still get a home loan in Logan with a low deposit?
Yes! There are low-deposit options available, including First Home Guarantee schemes and lender-specific products. Ferns Finance Brokers can help you find the best fit based on your situation.
Can a finance broker help with bad credit?
Yes, finance brokers can assist clients with bad credit. They have access to lenders who specialize in offering loans to individuals with less-than-perfect credit histories. Brokers can help you understand your options and find a lender willing to work with your situation.
While securing a loan with bad credit may come with higher interest rates, a broker can help you navigate these challenges and find the best possible terms.
Can you help me refinance my current mortgage to a better deal?
Absolutely. We offer free assessments to compare your current rate with what’s available — and if there’s a better option, we’ll make it easy to switch.