Interest-Only Mortgage Calculator
Estimate your monthly interest-only mortgage payment from the loan amount and interest rate.
Monthly payment
$ 0.00
(Interest rate % × Loan amount) ÷ 12
How to Use This Calculator
- Enter your Loan amount and Interest rate (%).
- Click Calculate to see your estimated monthly interest-only payment.
- The result uses the formula: (Interest rate % × Loan amount) ÷ 12.
Frequently Asked Questions
How is the monthly payment calculated?
Multiply your interest rate (as a percent) by the loan amount, then divide by 12. For example, 6.5% on $400,000 is (6.5 × 400,000) ÷ 12 = $2,166.67 per month.
Does this include principal?
No. During an interest-only period you pay interest only; principal is not reduced unless you make extra payments.
Are taxes and insurance included?
No. This estimate is for principal and interest only.
