Search

Interest-Only Mortgage Calculator

Our calculator shows you what an interest-only mortgage's repayments will be (weekly, fortnightly and monthly) and reveals the total costs of an interest-only mortgage.
Updated 16 January 2025
​​​​
​Our Interest-Only Mortgage Calculator Makes The Numbers Clear
  • Our guide to interest-only mortgages explains the pros and cons of such an arrangement in detail. 
  • If you are considering an interest-only mortgage, think very carefully about whether it is right for you

Your Interest-Only Mortgage Calculator is Brought to You by LifeDirect Mortgages

LifeDirect Mortgages, a trusted name in mortgage brokering across New Zealand, proudly supports this guide. We value LifeDirect Mortgages' commitment to helping New Zealanders secure the best home loan solutions, offering personalised advice tailored to your needs.

Whether you're a first-home buyer, looking to refinance, or exploring investment property options, LifeDirect Mortgages' experienced team makes the process simple, transparent, and stress-free. We proudly name them winners of our 2024 Editor's Choice for our favourite nationwide mortgage adviser.

We encourage you to contact their friendly experts to discuss your mortgage needs - you can learn more about LifeDirect Mortgages with our detailed review or visit their website.

Interest Only Mortgage Calculator

Mortgage Amount
Loan Length
Interest Rate
Payments Per Year
Mortgage Payment
-
Mortgage Amount
-
Total Interest
-
Total Cost
-
Important: Our calculations are based on the assumption that you make the same fixed mortgage repayment for the entire interest-only loan period, the interest rate does not increase or decrease, you don't miss any repayment deadlines, overpay or underpay.

Ready to Apply for an Interest-Only Home Loan?

Consider a Mortgage Broker - They Usually Save Time and Money

​Mortgage brokers are popular and don't charge a fee. Their service goes beyond what a bank offers by comparing a number of lenders to find the best deal for your circumstances.

We've shortlisted top-rated mortgage brokers who go the distance for their clients in select cities around New Zealand:
​​Important: Are you ready for a mortgage?
Our friends at LifeDirect Mortgages have a useful Mortgage Potential Calculator that gives you a clear snapshot of your borrowing ability in just a few clicks. Whether you're looking for a first home, refinance, moving home or an investment property mortgage, simply enter a few details, and you'll see:
  • Your estimated borrowing amount
  • Monthly, fortnightly, and weekly repayments
  • Your deposit and income breakdown
  • Tips to improve your mortgage readiness

It's easy to use, with clear visuals to help you understand your position. You do not need to enter any personal information.
Related guides include: