Interest Only Mortgage Calculator
Estimate interest only mortgage from the amount, rate, term, payment, and fees. Use this free interest only mortgage calculator for fast, clear results with...
Interest Only Mortgage Calculator guide
What it is for
The Interest Only Mortgage Calculator estimates a financial outcome so you can compare scenarios before making a decision.
How it is calculated
Monthly interest-only payment is loan amount × annual percentage / 1200. Interest during the entered period is loan amount × annual percentage / 100 × years.
Assumptions
Taxes, fees, inflation, rate changes, and product terms are not included unless the inputs account for them.
Example
Worked example — Loan amount: $300000; Annual interest rate: 5%; Interest-only period (years): 5. Monthly interest-only payment: $1,250; Interest during period: $75,000.
Limitations
This is not financial, tax, legal, or investment advice. Confirm terms with official documents and a qualified professional.
Public source: CFPB: Consumer Tools