Interest Only Home Loan Calculation

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Interest Only Home Loan Calculator

Interest Only Home Loan Calculator is an online personal finance assessment tool to calculate how much monthly and total interest you should pay on the principal about to be borrowed. Home loan principal, interest rate and maturity period are the key terms to determine the necessary terms

Unlike traditional home loan repayments, interest only home loan requires borrower to repay only interest. The principal remains same over the maturity period. The principal should be repaid in a single installment at the end of maturity period. However at the end of the loan term or period, the borrower has the options of renewing the interest-only loan, repaying the capital, or converting the loan in to a regular principal and interest payment loan according to the available terms & conditions of financial institutions. By using this interest only home loan calculator you can compare the different principal, interest rate and maturity period to obtain the best finance assistance from the lender