Interest-Only Mortgage Calculator

Calculate your interest-only period payments and see the payment increase when amortization begins.

Loan Details

Loan Amount

Annual Interest Rate

Interest-Only Period

years

Total Loan Term

years

During the interest-only period, you pay no principal. After this period, payments increase significantly.

Interest-Only Payment

$2,000.00

First 10 years

Amortizing Payment

$2,865.72

+43% increase

Payment Increase

$865.72

Extra Cost vs Traditional

$64,421.06

IO Period Payments$240,000.00

Amortizing Period Payments$687,773.82

Total Interest Paid$527,773.82

Traditional Monthly Payment$2,398.20

Total Cost$927,773.82