Interest Only Payment Option Calculator

Interest Only Payment Calculator

Loan Amount:
Interest Rate¹:		%

Payment Options
30-Year Principal and Interest Payment:	$599.55
Interest Only Payment²:	$500.00
Monthly Savings³:	$99.55

Assumptions:

¹ The interest-only payment and the monthly savings will change as the interest rate changes. Rates are for calculation purposes only, please call your loan officer for rate quotes.

² The interest-only payment option is only available during the initial interest only payment period. This is only in the first ten to fifteen years. Some programs have shorter initial interest only periods. For example: on a 5/1 ARM, the interest-only period may be only the first five years.

³ Monthly savings is based on the thirty-year, amortized principal and interest payment.

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In New Jersey, all commissions are negotiable. Other Commission plans are available. Independently owned & operated. *Any savings potential indicated on this web site compares to a broker charging a 6% commission. Actual savings, if any, will vary. Commissions are not set by law and may vary from agency to agency. Some savings data is used which includes other offices under the same franchise. Much information about properties listed here, is obtained from the seller, and should be independently verified. All information is subject to errors and or ommissions and the real estate company, it's brokers or agents do not assume liability. Always hire attorneys, home inspectors and other professionals to protect yourself in a transaction.