Interest-Only Mortgage Calculator

Using our calculator is simple: Enter your loan amount, annual interest rate, loan term, and interest-only period. Click "Calculate Payments" to see your monthly interest-only payment, total interest, and a visual breakdown of your payments.

The calculator shows your monthly interest-only payment during the interest-only period, the total interest you'll pay during that period, and the total payment required after the interest-only period ends. The chart provides a visual representation of how your payments are allocated.

After the interest-only period ends, your payments will increase significantly as you start paying both principal and interest. It's important to plan for this transition by saving during the interest-only period or considering refinancing options.

To maximize benefits, consider investing the money you save during the interest-only period, make additional principal payments when possible, and have a solid plan for when the interest-only period ends and payments increase.