INTEREST ONLY CALCULATOR

Loan Amount: $     
 Loan Term:  years    
Interest Rate:     
     
     
Fully Amortizing Payment Interest Only Payment
$ $  
Monthly cash flow savings of:   $  
Note: most interest only mortgage programs allow interest only payments for the first 3, 5, 7 or 10 years of the loan term.  The loan will then be amortized for full payoff over the remaining loan term.  Programs include loans that have the interest rate adjusting every 6 months, or you can lock the rate in for up to 30 years, while still making interest only payments for the first 10 years.

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