Interest-Only Mortgage Rates

Mortgage Repayment Calculators

Are you ready to crunch some numbers and get a clear picture of your mortgage repayments? Our mortgage repayment calculators are here to help! Whether you're a first-time homebuyer or a seasoned refinancer, these tools will help you calculate your loan repayments with ease. Check out the tables and lists below to explore different repayment scenarios and find the one that works best for you.

Loan Amount Interest Rate Loan Term Monthly Repayment
$200,000 3.5% 30 years $896
$300,000 4.0% 25 years $1,432
  • Loan amount: the amount you borrow to purchase your home
  • Interest rate: the rate at which interest is charged on your loan
  • Loan term: the length of time you have to repay your loan

Affordability Calculator

How much can you really afford to borrow? Our affordability calculator is designed to help first-time buyers determine their borrowing power. Check out the example tables and lists below to get a better understanding of the factors that affect your affordability.

Income Expenses Credit Score Affordability
$50,000 $20,000 700 $250,000
$75,000 $30,000 800 $350,000
  • Income: your annual gross income
  • Expenses: your monthly expenses, including debt repayments and living costs
  • Credit score: your credit score, which affects the interest rate you'll qualify for

According to Investopedia, a good credit score can help you qualify for better interest rates and terms.

Interest-Only Mortgage Comparison

Ready to compare interest-only mortgage options? Our comparison table below will help you evaluate different loan terms and rates. Which one will you choose?

Loan Term Interest Rate Monthly Repayment
5 years 3.0% $1,073
10 years 3.5% $1,244

For more information on interest-only mortgages, visit our Interest-Only Mortgages page.

Loan Term Calculator

How will your loan term affect your repayments? Our loan term calculator will help you find out. Check out the lists below to weigh the pros and cons of different loan terms.

  • Short loan term: lower interest paid overall, but higher monthly repayments
  • Long loan term: lower monthly repayments, but more interest paid overall

As WikiHow notes, choosing the right loan term can save you thousands of dollars in interest payments.

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Mortgage Calculator Tools

Ready to plan and compare different interest-only mortgage options? Our interactive form below will help you calculate your mortgage scenarios. Simply input your personal financial data and get instant results!