Launch of a new interest-only mortgage calculator
Real estate investment company, Opes Partners has just released a new real estate investment calculator. The Interest-Only Mortgage Calculator allows real estate investors to see what their payments would be on their interest-only mortgages.
Opes Partners Managing Director Andrew Nicol says âInterest-only mortgages are important because they decrease the amount a real estate investor has to contribute to their property each week. For example, the difference between an interest-only mortgage and a standard table mortgage might be $ 200. per week.”
He continues, âWhile having an interest-only mortgage means that the principal debt is never paid off, if interest-only mortgages didn’t exist, fewer properties would come onto the market. This is because for the same cash contribution each week, investors can invest in 2 additional properties. “
“This means that more supply can come into the market, limiting house price inflation and providing additional options for tenants.”
Nicol is clear to say that “this version of the interest-only mortgage calculator is the first version, not the forever version, and our intention is to clearly show the difference between a table mortgage and an interest-only mortgage plus. clearly in the future. “
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