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Interest-Only Mortgage Calculator

Interest-Only Mortgage Calculator


Answer:
Interest Only Payment:
$ 601.56
Term:
60 months
 
 
Principal + Interest
Payment:
$ 935.84
Term:
300 months

Create an Amortization Schedule

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Calculator Use

Use this calculator to calculate your monthly payments on an interest only mortgage.  You'll get the amount of the interest only payment for the interest only period.  You'll also get the principal plus interest payment amount for the remaining mortgage term.  Create an amortization schedule when you are done.

Mortgage Amount
the amount of the mortgage loan you are taking.
Mortgage Term
How long will this mortgage be for?  Total years including the interest-only period
Interest Rate
the annual nominal interest rate or stated rate on the loan
Interest Only for
the period of time that the mortgage will be interest-only

For a basic type of mortgage use this simple mortgage calculator or mortgage calculator with taxes and insurance.



 

Cite this content, page or calculator as:

Furey, Edward "Interest-Only Mortgage Calculator"; from http://www.calculatorsoup.com - Online Calculator Resource.

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