Interest-Only Mortgage Calculator
See the payment during an interest-only period and the jump when principal payments start.
Interest-only payment
1,500.00
- Payment after the interest-only period
- 2,149.29
- Payment increase
- 649.29
- Total interest
- 395,830.36
- Interest vs. a regular loan
- 48,315.79
Show the work
Rate per period
i = annual rate ÷ 100 ÷ 12
6 ÷ 100 ÷ 12 = 0.005
Interest-only payment: interest, no principal
L × i
300,000.00 × 0.005 = 1,500.00
Estimates for general information only — not financial advice.
How it works
Interest-only payment = L × r ÷ 12; afterwards = L × i ÷ (1 − (1 + i)^−n) over the remaining n months
Questions
- How does the interest-only mortgage calculator work?
- Interest-only payment = L × r ÷ 12; afterwards = L × i ÷ (1 − (1 + i)^−n) over the remaining n months.
- What do I need to enter?
- Loan amount, Annual interest rate, Interest-only period, Total loan term. Optional fields can be left blank.
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