Interest Only Calculator - Calculate Now
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Interest Only Calculator

Interest Only Calculator will help you determine your mortgage payments on a loan with an interest-only option.
     
Loan Amount $
Loan Length years
Interest Rate %
 

 
 
 

This calculator calculates the monthly mortgage payment for a loan with "interest only" option for a given loan amount, interest rate and loan length.

The results page will show the monthly mortgage payment which includes only interest . It will also show you the fully amortized payment and your monthly savings.

Typically, if your loan-to-value (LTV) is more than 80%, the lenders will require that you obtain private mortgage insurance (PMI), however this calculator does not account for PMI. The reason is that today many lenders offer alternatives programs like 80:10:10 or 80:20 which do not require you to pay PMI.

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