Interest Only Loan Calculator


Interest Only Loan Calculator

An “interest only loan calculator” is an online tool that helps borrowers estimate the monthly payments they would make on a loan where they only pay interest for a certain period of time. For example, a homeowner with a $200,000, 30-year mortgage at a 4% interest rate would pay $800 in monthly interest payments for the first 10 years of the loan.

Interest only loan calculators are important because they can help borrowers understand how much they will pay over the life of a loan. This information can be used to compare different loan options and make informed decisions about which loan is right for them.

Read more