Should I consider an Interest-Only Mortgage?

Use this calculator to determine your initial interest-only monthly payment, as well as your principal and interest monthly payment after your interest-only term has expired. You can also calculate a 30-year fixed-rate monthly payment to compare and determine your monthly savings during the interest-only term.

Basic Loan Information
Value of Home:
Loan Amount:
Do not enter dollar signs $

Rate Information
Interest-Only Rate:
Interest-Only Term (years):

Total Term (years):	30
30-Year Fixed-Rate:

Payment Information
Initial Interest-Only Payment:
Principal & Interest Payment :
(what you pay after Interest-Only Term expires)
Total Interest Paid :
30-Year Fixed-Rate Payment:

Please remember, these are estimates based on the hypothetical terms. If this was a variable-rate account, the results would vary as the rate changes. This calculation assumes, 0 points, no PMI required, principle and interest only payments with a fixed-interest only period selected. You may need to add estimates for taxes and insurance to get a more accurate estimated payment.

Note: This calculator is solely for information purposes and provides reasonably accurate results. The calculations are not intended to be relied upon as actual results.