Mortgage calculator
Interest-Only Calculator
See what an interest-only payment looks like during the initial period, and how the payment jumps once the loan starts amortizing.
Your numbers
Interest-only monthly payment
$1,519
For the first 10 years, balance stays at $270,000
Payment after the IO period
$2,053
Amortized over the remaining 20 yrs
Fully amortizing payment
$1,751
If you skipped interest-only entirely
Interest paid during IO period
$182,250
None of it reduces your balance
Interest-only loans lower the payment early on but build no equity, and the payment jumps when amortization begins. They fit specific situations (variable income, short holding periods) and aren’t right for most primary-home buyers. Ask us before you commit.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment or financial advice. We cannot guarantee their accuracy or applicability to your circumstances. Results are estimates only and are not a loan offer or commitment to lend.
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