Interest-Only Mortgage Payment Calculator
Calculate the payment amount for an interest-only mortgage loan. An interest-only loan pays no principal in the early years of the loan then converts to a traditional amortized loan for the remainder of the mortgage length. The payments are lower during the interest-only period since no principal is being paid. The payment goes up sharply after the interest-only period since you must pay the balance of principal plus interest during the remaining loan years. Enter your sale price, any down payment you're making, the length of the loan, and the points and closing costs. Then enter the interest rates, lengths, and any additional principal amounts you plan to pay each month for the interest-only and amortized periods of the loan. This calculator will then show you the monthly payment amounts for the interest-only and amortized periods. It will also calculate the total amount of interest you will pay, the total amount of money you will spend over the life of the loan, and the anticipated payoff time. You can also display and/or print the full amortization schedule for your loan.
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Popup
Copy this text to popup the calculator in its own window. It is important to use your Account Number instead of 1 as shown in this example.
<script language="JavaScript" type="text/javascript">
<!--
//Interest-Only Mortgage Payment
function InterestOnlyMortgagePayment()
{
window.open('http://www.webcalcsolutions.com/Mortgage-Calculators/Interest-Only-Mortgage-Payment.asp?AcctNum=1', '_blank', 'width=610,height=900,directories=0,location=0,menubar=0,resizable=1,scrollbars=1,status=0,toolbar=0');
}
-->
</script>
<i>Payment Calculators</i><br>
<a href="javascript:InterestOnlyMortgagePayment();">Interest-Only Mortgage Payment</a><br>
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Embedded
Copy this text to embed the calculator in your webpage.It is important to use your Account Number instead of 1 as shown in this example.
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<iframe src="http://www.webcalcsolutions.com/Mortgage-Calculators/Interest-Only-Mortgage-Payment.asp?AcctNum=1" width="610" height="900" frameborder="0" scrolling="auto"><a href="http://www.webcalcsolutions.com/Mortgage-Calculators/Catalog.asp" target="_blank">Interest-Only Mortgage Payment Calculator</a></iframe>
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Customizable Field Values
You can customize the following field values for this calculator. When the calculator runs it will have
the values you set for these fields. It is important to use your Account Number instead of 1
as shown in this example.
Interest-Only Mortgage Payment Calculator's Customizable Fields |
Screen Name |
Parm Name |
Parm Value Used in this Example |
Title |
Title |
Mr. & Mrs. O'Riley |
Lender |
Lender |
AAA Money Lenders |
Sale Price |
SalePrice |
160,000.00 |
Down Payment |
DownPmt |
8,000.00 |
Length of Loan |
Length |
360 |
Years/Months (drop-down) |
LengthPrd |
Months |
Points |
Points |
1.0 |
Points Roll into Loan (checkbox) |
RollPoints |
True |
Other Closing Costs |
ClosingCosts |
3,500.00 |
Other Closing Costs Roll into Loan (checkbox) |
RollClosing |
True |
(Interest-Only period) Interest Rate |
IntRate |
5.25 |
(Interest-Only period) Length of Loan |
IntLength |
120 |
(Interest-Only period) Years/Months (drop-down) |
IntLengthPrd |
Months |
(Interest-Only period) Additional Principal |
IntAddPrin |
150.00 |
(Interest-Only period) Monthly Payment Type (radio buttons) |
PmtType |
MinPmt |
(Amortized period) Interest Rate |
Rate |
6.25 |
(Amortized period) Additional Principal |
AddPrin |
100.00 |
View Customized Calculator
<script language="JavaScript" type="text/javascript">
<!--
//Interest-Only Mortgage Payment
function InterestOnlyMortgagePayment()
{
window.open('http://www.webcalcsolutions.com/Mortgage-Calculators/Interest-Only-Mortgage-Payment.asp?AcctNum=1&' + 'Title=Mr. %26 Mrs. O%27Riley&Lender=AAA Money Lenders&SalePrice=160,000.00&' + 'DownPmt=8,000.00&Length=360&LengthPrd=Months&Points=1.0&RollPoints=True&' + 'ClosingCosts=3,500.00&RollClosing=True&IntRate=5.25&IntLength=120&' + 'IntLengthPrd=Months&IntAddPrin=150.00&PmtType=MinPmt&Rate=6.25&AddPrin=100.00',
'_blank',
'width=610,height=900,directories=0,location=0,menubar=0,resizable=1,scrollbars=1,status=0,toolbar=0');
}
-->
</script>
<a href="javascript:InterestOnlyMortgagePayment();">Interest-Only Mortgage Payment</a><br>
<br>
<a href='http://www.webcalcsolutions.com/' style='font-size: 8pt;'>Online Calculators - Financial Calculators, Health Calculators, and Health Assessments from WebCalcSolutions.com</a><br>
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Our examples have special characters (& or ') that must be encoded
to be interpreted properly by the browser. If the customized text you want to use
has any of these characters (&, ' [apostrophe or single-quote],
#, ?, ", \ or %) we have provided this Encode
tool so you can see how to type it into your script. Enter your customized text
then select 'Encode'. The encoded text will show up in the lower box and can be
copied and pasted directly into your script.
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