Interests-Only Calculator

Use this calculator to determine the monthly payments of an interest-only mortgage loan. Remember, the Total Payments field at the bottom of the calculator represents only the amount of interest that has been paid over the life of the loan; the full balance of the principal, therefore, remains unpaid.

To use the calculator, enter the following information:

Loan information: Amount (of mortgage), Interest Rate and Length (in years).

The calculator will compute the following information:

Monthly Principal and Interest
Total Payments

The calculator can also produce a PDF output file for download, and you can click the check box to view the Schedule Table for the time frame selected. The Schedule Table fields include: Number (of payment month), Interest, Principal, and Balance. It also shows totals for every field after each year of the mortgage.

Input Information

Loan Information
Amount :	($)
Interest Rate :	(%)
Length :	(Yrs)
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Show Schedule Table

Financial Analysis

Monthly Principal and Interests :	$989.58
Total Payments :	$356,250.00