# Interest-Only Mortgage Calculator

## 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.