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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Do I have to come into an office to apply?
Not at all! We offer phone, video, and online appointments — perfect if you're in a rural spot or juggling a busy schedule.
Do I need a finance broker?
Whether you need a finance broker depends on your financial situation and comfort level with the borrowing process. If you have a good understanding of financial products and feel confident negotiating with lenders, you may not need a broker. However, if you're unfamiliar with the process or have specific needs, a broker can provide valuable assistance.
Ultimately, the decision should be based on your individual circumstances and preferences.
Do you help with house and land packages in new developments around Logan or Yarrabilba?
Definitely. We often work with clients purchasing in estates like Yarrabilba, Flagstone, or Ripley Valley. We can guide you through finance stages tied to construction.
Do you work with local real estate agents and conveyancers?
Yes — we have a strong local network and can connect you with trusted professionals to make the process smooth.
How do finance brokers get paid?
Finance brokers typically earn their income through commissions paid by lenders when a loan is successfully arranged. This means that their services are often free for clients, as the lender covers the broker's fees. However, some brokers may charge a fee directly to clients for their services, especially if they provide additional consulting or financial planning.
It's important for clients to clarify the payment structure with their broker upfront to avoid any surprises later in the process.
How long does approval usually take in Logan or Gold Coast?
Depending on the lender, approvals can take 2–10 business days. We’ll prep your application to reduce delays.