Finance Tools
Interest-Only Loan Cost Calculator
Calculate interest-only monthly payments and compare them with fully amortized payments.
Compare interest-only loan payments with fully amortized payments.
How to use this interest-only loan cost calculator
- Enter the loan amount.
- Enter the annual interest rate (APR).
- Enter the loan term in years.
- Click Calculate to view monthly interest-only payments and full amortization comparison.
Example
Interest-only loans have lower initial payments compared to fully amortizing loans.
- Interest-only payment: principal × (APR ÷ 12)
- Fully amortized payments include principal + interest
- Useful for mortgage planning and investment property analysis
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