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Interest Only Mortgage Calculator

Interest Only Mortgage Calculator excel to calculate your monthly interest only mortgage payments with a printable interest only amortization schedule by monthly or yearly. The interest only loan calculator calculates initial interest only payments as well as monthly payments after the interest only period is over.

Interest Only Loan Calculator
Mortgage Amount
Loan Terms (Years)
Interest Only Period (Years)
Interest Rate
First Payment Date
Amortization schedule
 Show By Month Year
Check Local Mortgage Rates


Mortgage Calculator Results
Mortgage Amount:
 $300,000.00
Monthly Payment:
 $1,250.00 for 72 payments
$1,790.69 for 288 payments
Interest Only Terms:
 6 years
Total Terms:
 30 years
Total # Of Payments:
 360
Start Date:
 Sep, 2023
Payoff Date:
 Aug, 2053
Total Interest Paid:
 $305,720.20
Total Payment:
 $605,720.20

Interest Only Amortization Schedule
Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Sep, 2023 1 $1,250.00 $0.00 $1,250.00 $300,000.00
Oct, 2023 2 $1,250.00 $0.00 $1,250.00 $300,000.00
Nov, 2023 3 $1,250.00 $0.00 $1,250.00 $300,000.00
Dec, 2023 4 $1,250.00 $0.00 $1,250.00 $300,000.00
Jan, 2024 5 $1,250.00 $0.00 $1,250.00 $300,000.00
Feb, 2024 6 $1,250.00 $0.00 $1,250.00 $300,000.00
Mar, 2024 7 $1,250.00 $0.00 $1,250.00 $300,000.00
Apr, 2024 8 $1,250.00 $0.00 $1,250.00 $300,000.00
May, 2024 9 $1,250.00 $0.00 $1,250.00 $300,000.00
Jun, 2024 10 $1,250.00 $0.00 $1,250.00 $300,000.00
Jul, 2024 11 $1,250.00 $0.00 $1,250.00 $300,000.00
Aug, 2024 12 $1,250.00 $0.00 $1,250.00 $300,000.00
Sep, 2024 13 $1,250.00 $0.00 $1,250.00 $300,000.00
Oct, 2024 14 $1,250.00 $0.00 $1,250.00 $300,000.00
Nov, 2024 15 $1,250.00 $0.00 $1,250.00 $300,000.00
Dec, 2024 16 $1,250.00 $0.00 $1,250.00 $300,000.00
Jan, 2025 17 $1,250.00 $0.00 $1,250.00 $300,000.00
Feb, 2025 18 $1,250.00 $0.00 $1,250.00 $300,000.00
Mar, 2025 19 $1,250.00 $0.00 $1,250.00 $300,000.00
Apr, 2025 20 $1,250.00 $0.00 $1,250.00 $300,000.00
May, 2025 21 $1,250.00 $0.00 $1,250.00 $300,000.00
Jun, 2025 22 $1,250.00 $0.00 $1,250.00 $300,000.00
Jul, 2025 23 $1,250.00 $0.00 $1,250.00 $300,000.00
Aug, 2025 24 $1,250.00 $0.00 $1,250.00 $300,000.00
Sep, 2025 25 $1,250.00 $0.00 $1,250.00 $300,000.00
Oct, 2025 26 $1,250.00 $0.00 $1,250.00 $300,000.00
Nov, 2025 27 $1,250.00 $0.00 $1,250.00 $300,000.00
Dec, 2025 28 $1,250.00 $0.00 $1,250.00 $300,000.00
Jan, 2026 29 $1,250.00 $0.00 $1,250.00 $300,000.00
Feb, 2026 30 $1,250.00 $0.00 $1,250.00 $300,000.00
Mar, 2026 31 $1,250.00 $0.00 $1,250.00 $300,000.00
Apr, 2026 32 $1,250.00 $0.00 $1,250.00 $300,000.00
May, 2026 33 $1,250.00 $0.00 $1,250.00 $300,000.00
Jun, 2026 34 $1,250.00 $0.00 $1,250.00 $300,000.00
Jul, 2026 35 $1,250.00 $0.00 $1,250.00 $300,000.00
Aug, 2026 36 $1,250.00 $0.00 $1,250.00 $300,000.00
Sep, 2026 37 $1,250.00 $0.00 $1,250.00 $300,000.00
Oct, 2026 38 $1,250.00 $0.00 $1,250.00 $300,000.00
Nov, 2026 39 $1,250.00 $0.00 $1,250.00 $300,000.00
Dec, 2026 40 $1,250.00 $0.00 $1,250.00 $300,000.00
Jan, 2027 41 $1,250.00 $0.00 $1,250.00 $300,000.00
Feb, 2027 42 $1,250.00 $0.00 $1,250.00 $300,000.00
Mar, 2027 43 $1,250.00 $0.00 $1,250.00 $300,000.00
Apr, 2027 44 $1,250.00 $0.00 $1,250.00 $300,000.00
May, 2027 45 $1,250.00 $0.00 $1,250.00 $300,000.00
Jun, 2027 46 $1,250.00 $0.00 $1,250.00 $300,000.00
Jul, 2027 47 $1,250.00 $0.00 $1,250.00 $300,000.00
Aug, 2027 48 $1,250.00 $0.00 $1,250.00 $300,000.00
Sep, 2027 49 $1,250.00 $0.00 $1,250.00 $300,000.00
Oct, 2027 50 $1,250.00 $0.00 $1,250.00 $300,000.00
Nov, 2027 51 $1,250.00 $0.00 $1,250.00 $300,000.00
Dec, 2027 52 $1,250.00 $0.00 $1,250.00 $300,000.00
Jan, 2028 53 $1,250.00 $0.00 $1,250.00 $300,000.00
Feb, 2028 54 $1,250.00 $0.00 $1,250.00 $300,000.00
Mar, 2028 55 $1,250.00 $0.00 $1,250.00 $300,000.00
Apr, 2028 56 $1,250.00 $0.00 $1,250.00 $300,000.00
May, 2028 57 $1,250.00 $0.00 $1,250.00 $300,000.00
Jun, 2028 58 $1,250.00 $0.00 $1,250.00 $300,000.00
Jul, 2028 59 $1,250.00 $0.00 $1,250.00 $300,000.00
Aug, 2028 60 $1,250.00 $0.00 $1,250.00 $300,000.00
Sep, 2028 61 $1,250.00 $0.00 $1,250.00 $300,000.00
Oct, 2028 62 $1,250.00 $0.00 $1,250.00 $300,000.00
Nov, 2028 63 $1,250.00 $0.00 $1,250.00 $300,000.00
Dec, 2028 64 $1,250.00 $0.00 $1,250.00 $300,000.00
Jan, 2029 65 $1,250.00 $0.00 $1,250.00 $300,000.00
Feb, 2029 66 $1,250.00 $0.00 $1,250.00 $300,000.00
Mar, 2029 67 $1,250.00 $0.00 $1,250.00 $300,000.00
Apr, 2029 68 $1,250.00 $0.00 $1,250.00 $300,000.00
May, 2029 69 $1,250.00 $0.00 $1,250.00 $300,000.00
Jun, 2029 70 $1,250.00 $0.00 $1,250.00 $300,000.00
Jul, 2029 71 $1,250.00 $0.00 $1,250.00 $300,000.00
Aug, 2029 72 $1,250.00 $0.00 $1,250.00 $300,000.00
Sep, 2029 73 $1,250.00 $540.69 $1,790.69 $299,459.31
Oct, 2029 74 $1,247.75 $542.94 $1,790.69 $298,916.37
Nov, 2029 75 $1,245.48 $545.21 $1,790.69 $298,371.16
Dec, 2029 76 $1,243.21 $547.48 $1,790.69 $297,823.68
Jan, 2030 77 $1,240.93 $549.76 $1,790.69 $297,273.92
Feb, 2030 78 $1,238.64 $552.05 $1,790.69 $296,721.87
Mar, 2030 79 $1,236.34 $554.35 $1,790.69 $296,167.52
Apr, 2030 80 $1,234.03 $556.66 $1,790.69 $295,610.86
May, 2030 81 $1,231.71 $558.98 $1,790.69 $295,051.88
Jun, 2030 82 $1,229.38 $561.31 $1,790.69 $294,490.57
Jul, 2030 83 $1,227.04 $563.65 $1,790.69 $293,926.92
Aug, 2030 84 $1,224.70 $565.99 $1,790.69 $293,360.93
Sep, 2030 85 $1,222.34 $568.35 $1,790.69 $292,792.58
Oct, 2030 86 $1,219.97 $570.72 $1,790.69 $292,221.86
Nov, 2030 87 $1,217.59 $573.10 $1,790.69 $291,648.76
Dec, 2030 88 $1,215.20 $575.49 $1,790.69 $291,073.27
Jan, 2031 89 $1,212.81 $577.88 $1,790.69 $290,495.39
Feb, 2031 90 $1,210.40 $580.29 $1,790.69 $289,915.10
Mar, 2031 91 $1,207.98 $582.71 $1,790.69 $289,332.39
Apr, 2031 92 $1,205.55 $585.14 $1,790.69 $288,747.25
May, 2031 93 $1,203.11 $587.58 $1,790.69 $288,159.67
Jun, 2031 94 $1,200.67 $590.02 $1,790.69 $287,569.65
Jul, 2031 95 $1,198.21 $592.48 $1,790.69 $286,977.17
Aug, 2031 96 $1,195.74 $594.95 $1,790.69 $286,382.22
Sep, 2031 97 $1,193.26 $597.43 $1,790.69 $285,784.79
Oct, 2031 98 $1,190.77 $599.92 $1,790.69 $285,184.87
Nov, 2031 99 $1,188.27 $602.42 $1,790.69 $284,582.45
Dec, 2031 100 $1,185.76 $604.93 $1,790.69 $283,977.52
Jan, 2032 101 $1,183.24 $607.45 $1,790.69 $283,370.07
Feb, 2032 102 $1,180.71 $609.98 $1,790.69 $282,760.09
Mar, 2032 103 $1,178.17 $612.52 $1,790.69 $282,147.57
Apr, 2032 104 $1,175.61 $615.08 $1,790.69 $281,532.49
May, 2032 105 $1,173.05 $617.64 $1,790.69 $280,914.85
Jun, 2032 106 $1,170.48 $620.21 $1,790.69 $280,294.64
Jul, 2032 107 $1,167.89 $622.80 $1,790.69 $279,671.84
Aug, 2032 108 $1,165.30 $625.39 $1,790.69 $279,046.45
Sep, 2032 109 $1,162.69 $628.00 $1,790.69 $278,418.45
Oct, 2032 110 $1,160.08 $630.61 $1,790.69 $277,787.84
Nov, 2032 111 $1,157.45 $633.24 $1,790.69 $277,154.60
Dec, 2032 112 $1,154.81 $635.88 $1,790.69 $276,518.72
Jan, 2033 113 $1,152.16 $638.53 $1,790.69 $275,880.19
Feb, 2033 114 $1,149.50 $641.19 $1,790.69 $275,239.00
Mar, 2033 115 $1,146.83 $643.86 $1,790.69 $274,595.14
Apr, 2033 116 $1,144.15 $646.54 $1,790.69 $273,948.60
May, 2033 117 $1,141.45 $649.24 $1,790.69 $273,299.36
Jun, 2033 118 $1,138.75 $651.94 $1,790.69 $272,647.42
Jul, 2033 119 $1,136.03 $654.66 $1,790.69 $271,992.76
Aug, 2033 120 $1,133.30 $657.39 $1,790.69 $271,335.37
Sep, 2033 121 $1,130.56 $660.13 $1,790.69 $270,675.24
Oct, 2033 122 $1,127.81 $662.88 $1,790.69 $270,012.36
Nov, 2033 123 $1,125.05 $665.64 $1,790.69 $269,346.72
Dec, 2033 124 $1,122.28 $668.41 $1,790.69 $268,678.31
Jan, 2034 125 $1,119.49 $671.20 $1,790.69 $268,007.11
Feb, 2034 126 $1,116.70 $673.99 $1,790.69 $267,333.12
Mar, 2034 127 $1,113.89 $676.80 $1,790.69 $266,656.32
Apr, 2034 128 $1,111.07 $679.62 $1,790.69 $265,976.70
May, 2034 129 $1,108.24 $682.45 $1,790.69 $265,294.25
Jun, 2034 130 $1,105.39 $685.30 $1,790.69 $264,608.95
Jul, 2034 131 $1,102.54 $688.15 $1,790.69 $263,920.80
Aug, 2034 132 $1,099.67 $691.02 $1,790.69 $263,229.78
Sep, 2034 133 $1,096.79 $693.90 $1,790.69 $262,535.88
Oct, 2034 134 $1,093.90 $696.79 $1,790.69 $261,839.09
Nov, 2034 135 $1,091.00 $699.69 $1,790.69 $261,139.40
Dec, 2034 136 $1,088.08 $702.61 $1,790.69 $260,436.79
Jan, 2035 137 $1,085.15 $705.54 $1,790.69 $259,731.25
Feb, 2035 138 $1,082.21 $708.48 $1,790.69 $259,022.77
Mar, 2035 139 $1,079.26 $711.43 $1,790.69 $258,311.34
Apr, 2035 140 $1,076.30 $714.39 $1,790.69 $257,596.95
May, 2035 141 $1,073.32 $717.37 $1,790.69 $256,879.58
Jun, 2035 142 $1,070.33 $720.36 $1,790.69 $256,159.22
Jul, 2035 143 $1,067.33 $723.36 $1,790.69 $255,435.86
Aug, 2035 144 $1,064.32 $726.37 $1,790.69 $254,709.49
Sep, 2035 145 $1,061.29 $729.40 $1,790.69 $253,980.09
Oct, 2035 146 $1,058.25 $732.44 $1,790.69 $253,247.65
Nov, 2035 147 $1,055.20 $735.49 $1,790.69 $252,512.16
Dec, 2035 148 $1,052.13 $738.56 $1,790.69 $251,773.60
Jan, 2036 149 $1,049.06 $741.63 $1,790.69 $251,031.97
Feb, 2036 150 $1,045.97 $744.72 $1,790.69 $250,287.25
Mar, 2036 151 $1,042.86 $747.83 $1,790.69 $249,539.42
Apr, 2036 152 $1,039.75 $750.94 $1,790.69 $248,788.48
May, 2036 153 $1,036.62 $754.07 $1,790.69 $248,034.41
Jun, 2036 154 $1,033.48 $757.21 $1,790.69 $247,277.20
Jul, 2036 155 $1,030.32 $760.37 $1,790.69 $246,516.83
Aug, 2036 156 $1,027.15 $763.54 $1,790.69 $245,753.29
Sep, 2036 157 $1,023.97 $766.72 $1,790.69 $244,986.57
Oct, 2036 158 $1,020.78 $769.91 $1,790.69 $244,216.66
Nov, 2036 159 $1,017.57 $773.12 $1,790.69 $243,443.54
Dec, 2036 160 $1,014.35 $776.34 $1,790.69 $242,667.20
Jan, 2037 161 $1,011.11 $779.58 $1,790.69 $241,887.62
Feb, 2037 162 $1,007.87 $782.82 $1,790.69 $241,104.80
Mar, 2037 163 $1,004.60 $786.09 $1,790.69 $240,318.71
Apr, 2037 164 $1,001.33 $789.36 $1,790.69 $239,529.35
May, 2037 165 $998.04 $792.65 $1,790.69 $238,736.70
Jun, 2037 166 $994.74 $795.95 $1,790.69 $237,940.75
Jul, 2037 167 $991.42 $799.27 $1,790.69 $237,141.48
Aug, 2037 168 $988.09 $802.60 $1,790.69 $236,338.88
Sep, 2037 169 $984.75 $805.94 $1,790.69 $235,532.94
Oct, 2037 170 $981.39 $809.30 $1,790.69 $234,723.64
Nov, 2037 171 $978.02 $812.67 $1,790.69 $233,910.97
Dec, 2037 172 $974.63 $816.06 $1,790.69 $233,094.91
Jan, 2038 173 $971.23 $819.46 $1,790.69 $232,275.45
Feb, 2038 174 $967.81 $822.88 $1,790.69 $231,452.57
Mar, 2038 175 $964.39 $826.30 $1,790.69 $230,626.27
Apr, 2038 176 $960.94 $829.75 $1,790.69 $229,796.52
May, 2038 177 $957.49 $833.20 $1,790.69 $228,963.32
Jun, 2038 178 $954.01 $836.68 $1,790.69 $228,126.64
Jul, 2038 179 $950.53 $840.16 $1,790.69 $227,286.48
Aug, 2038 180 $947.03 $843.66 $1,790.69 $226,442.82
Sep, 2038 181 $943.51 $847.18 $1,790.69 $225,595.64
Oct, 2038 182 $939.98 $850.71 $1,790.69 $224,744.93
Nov, 2038 183 $936.44 $854.25 $1,790.69 $223,890.68
Dec, 2038 184 $932.88 $857.81 $1,790.69 $223,032.87
Jan, 2039 185 $929.30 $861.39 $1,790.69 $222,171.48
Feb, 2039 186 $925.71 $864.98 $1,790.69 $221,306.50
Mar, 2039 187 $922.11 $868.58 $1,790.69 $220,437.92
Apr, 2039 188 $918.49 $872.20 $1,790.69 $219,565.72
May, 2039 189 $914.86 $875.83 $1,790.69 $218,689.89
Jun, 2039 190 $911.21 $879.48 $1,790.69 $217,810.41
Jul, 2039 191 $907.54 $883.15 $1,790.69 $216,927.26
Aug, 2039 192 $903.86 $886.83 $1,790.69 $216,040.43
Sep, 2039 193 $900.17 $890.52 $1,790.69 $215,149.91
Oct, 2039 194 $896.46 $894.23 $1,790.69 $214,255.68
Nov, 2039 195 $892.73 $897.96 $1,790.69 $213,357.72
Dec, 2039 196 $888.99 $901.70 $1,790.69 $212,456.02
Jan, 2040 197 $885.23 $905.46 $1,790.69 $211,550.56
Feb, 2040 198 $881.46 $909.23 $1,790.69 $210,641.33
Mar, 2040 199 $877.67 $913.02 $1,790.69 $209,728.31
Apr, 2040 200 $873.87 $916.82 $1,790.69 $208,811.49
May, 2040 201 $870.05 $920.64 $1,790.69 $207,890.85
Jun, 2040 202 $866.21 $924.48 $1,790.69 $206,966.37
Jul, 2040 203 $862.36 $928.33 $1,790.69 $206,038.04
Aug, 2040 204 $858.49 $932.20 $1,790.69 $205,105.84
Sep, 2040 205 $854.61 $936.08 $1,790.69 $204,169.76
Oct, 2040 206 $850.71 $939.98 $1,790.69 $203,229.78
Nov, 2040 207 $846.79 $943.90 $1,790.69 $202,285.88
Dec, 2040 208 $842.86 $947.83 $1,790.69 $201,338.05
Jan, 2041 209 $838.91 $951.78 $1,790.69 $200,386.27
Feb, 2041 210 $834.94 $955.75 $1,790.69 $199,430.52
Mar, 2041 211 $830.96 $959.73 $1,790.69 $198,470.79
Apr, 2041 212 $826.96 $963.73 $1,790.69 $197,507.06
May, 2041 213 $822.95 $967.74 $1,790.69 $196,539.32
Jun, 2041 214 $818.91 $971.78 $1,790.69 $195,567.54
Jul, 2041 215 $814.86 $975.83 $1,790.69 $194,591.71
Aug, 2041 216 $810.80 $979.89 $1,790.69 $193,611.82
Sep, 2041 217 $806.72 $983.97 $1,790.69 $192,627.85
Oct, 2041 218 $802.62 $988.07 $1,790.69 $191,639.78
Nov, 2041 219 $798.50 $992.19 $1,790.69 $190,647.59
Dec, 2041 220 $794.36 $996.33 $1,790.69 $189,651.26
Jan, 2042 221 $790.21 $1,000.48 $1,790.69 $188,650.78
Feb, 2042 222 $786.04 $1,004.65 $1,790.69 $187,646.13
Mar, 2042 223 $781.86 $1,008.83 $1,790.69 $186,637.30
Apr, 2042 224 $777.66 $1,013.03 $1,790.69 $185,624.27
May, 2042 225 $773.43 $1,017.26 $1,790.69 $184,607.01
Jun, 2042 226 $769.20 $1,021.49 $1,790.69 $183,585.52
Jul, 2042 227 $764.94 $1,025.75 $1,790.69 $182,559.77
Aug, 2042 228 $760.67 $1,030.02 $1,790.69 $181,529.75
Sep, 2042 229 $756.37 $1,034.32 $1,790.69 $180,495.43
Oct, 2042 230 $752.06 $1,038.63 $1,790.69 $179,456.80
Nov, 2042 231 $747.74 $1,042.95 $1,790.69 $178,413.85
Dec, 2042 232 $743.39 $1,047.30 $1,790.69 $177,366.55
Jan, 2043 233 $739.03 $1,051.66 $1,790.69 $176,314.89
Feb, 2043 234 $734.65 $1,056.04 $1,790.69 $175,258.85
Mar, 2043 235 $730.25 $1,060.44 $1,790.69 $174,198.41
Apr, 2043 236 $725.83 $1,064.86 $1,790.69 $173,133.55
May, 2043 237 $721.39 $1,069.30 $1,790.69 $172,064.25
Jun, 2043 238 $716.93 $1,073.76 $1,790.69 $170,990.49
Jul, 2043 239 $712.46 $1,078.23 $1,790.69 $169,912.26
Aug, 2043 240 $707.97 $1,082.72 $1,790.69 $168,829.54
Sep, 2043 241 $703.46 $1,087.23 $1,790.69 $167,742.31
Oct, 2043 242 $698.93 $1,091.76 $1,790.69 $166,650.55
Nov, 2043 243 $694.38 $1,096.31 $1,790.69 $165,554.24
Dec, 2043 244 $689.81 $1,100.88 $1,790.69 $164,453.36
Jan, 2044 245 $685.22 $1,105.47 $1,790.69 $163,347.89
Feb, 2044 246 $680.62 $1,110.07 $1,790.69 $162,237.82
Mar, 2044 247 $675.99 $1,114.70 $1,790.69 $161,123.12
Apr, 2044 248 $671.35 $1,119.34 $1,790.69 $160,003.78
May, 2044 249 $666.68 $1,124.01 $1,790.69 $158,879.77
Jun, 2044 250 $662.00 $1,128.69 $1,790.69 $157,751.08
Jul, 2044 251 $657.30 $1,133.39 $1,790.69 $156,617.69
Aug, 2044 252 $652.57 $1,138.12 $1,790.69 $155,479.57
Sep, 2044 253 $647.83 $1,142.86 $1,790.69 $154,336.71
Oct, 2044 254 $643.07 $1,147.62 $1,790.69 $153,189.09
Nov, 2044 255 $638.29 $1,152.40 $1,790.69 $152,036.69
Dec, 2044 256 $633.49 $1,157.20 $1,790.69 $150,879.49
Jan, 2045 257 $628.66 $1,162.03 $1,790.69 $149,717.46
Feb, 2045 258 $623.82 $1,166.87 $1,790.69 $148,550.59
Mar, 2045 259 $618.96 $1,171.73 $1,790.69 $147,378.86
Apr, 2045 260 $614.08 $1,176.61 $1,790.69 $146,202.25
May, 2045 261 $609.18 $1,181.51 $1,790.69 $145,020.74
Jun, 2045 262 $604.25 $1,186.44 $1,790.69 $143,834.30
Jul, 2045 263 $599.31 $1,191.38 $1,790.69 $142,642.92
Aug, 2045 264 $594.35 $1,196.34 $1,790.69 $141,446.58
Sep, 2045 265 $589.36 $1,201.33 $1,790.69 $140,245.25
Oct, 2045 266 $584.36 $1,206.33 $1,790.69 $139,038.92
Nov, 2045 267 $579.33 $1,211.36 $1,790.69 $137,827.56
Dec, 2045 268 $574.28 $1,216.41 $1,790.69 $136,611.15
Jan, 2046 269 $569.21 $1,221.48 $1,790.69 $135,389.67
Feb, 2046 270 $564.12 $1,226.57 $1,790.69 $134,163.10
Mar, 2046 271 $559.01 $1,231.68 $1,790.69 $132,931.42
Apr, 2046 272 $553.88 $1,236.81 $1,790.69 $131,694.61
May, 2046 273 $548.73 $1,241.96 $1,790.69 $130,452.65
Jun, 2046 274 $543.55 $1,247.14 $1,790.69 $129,205.51
Jul, 2046 275 $538.36 $1,252.33 $1,790.69 $127,953.18
Aug, 2046 276 $533.14 $1,257.55 $1,790.69 $126,695.63
Sep, 2046 277 $527.90 $1,262.79 $1,790.69 $125,432.84
Oct, 2046 278 $522.64 $1,268.05 $1,790.69 $124,164.79
Nov, 2046 279 $517.35 $1,273.34 $1,790.69 $122,891.45
Dec, 2046 280 $512.05 $1,278.64 $1,790.69 $121,612.81
Jan, 2047 281 $506.72 $1,283.97 $1,790.69 $120,328.84
Feb, 2047 282 $501.37 $1,289.32 $1,790.69 $119,039.52
Mar, 2047 283 $496.00 $1,294.69 $1,790.69 $117,744.83
Apr, 2047 284 $490.60 $1,300.09 $1,790.69 $116,444.74
May, 2047 285 $485.19 $1,305.50 $1,790.69 $115,139.24
Jun, 2047 286 $479.75 $1,310.94 $1,790.69 $113,828.30
Jul, 2047 287 $474.28 $1,316.41 $1,790.69 $112,511.89
Aug, 2047 288 $468.80 $1,321.89 $1,790.69 $111,190.00
Sep, 2047 289 $463.29 $1,327.40 $1,790.69 $109,862.60
Oct, 2047 290 $457.76 $1,332.93 $1,790.69 $108,529.67
Nov, 2047 291 $452.21 $1,338.48 $1,790.69 $107,191.19
Dec, 2047 292 $446.63 $1,344.06 $1,790.69 $105,847.13
Jan, 2048 293 $441.03 $1,349.66 $1,790.69 $104,497.47
Feb, 2048 294 $435.41 $1,355.28 $1,790.69 $103,142.19
Mar, 2048 295 $429.76 $1,360.93 $1,790.69 $101,781.26
Apr, 2048 296 $424.09 $1,366.60 $1,790.69 $100,414.66
May, 2048 297 $418.39 $1,372.30 $1,790.69 $99,042.36
Jun, 2048 298 $412.68 $1,378.01 $1,790.69 $97,664.35
Jul, 2048 299 $406.93 $1,383.76 $1,790.69 $96,280.59
Aug, 2048 300 $401.17 $1,389.52 $1,790.69 $94,891.07
Sep, 2048 301 $395.38 $1,395.31 $1,790.69 $93,495.76
Oct, 2048 302 $389.57 $1,401.12 $1,790.69 $92,094.64
Nov, 2048 303 $383.73 $1,406.96 $1,790.69 $90,687.68
Dec, 2048 304 $377.87 $1,412.82 $1,790.69 $89,274.86
Jan, 2049 305 $371.98 $1,418.71 $1,790.69 $87,856.15
Feb, 2049 306 $366.07 $1,424.62 $1,790.69 $86,431.53
Mar, 2049 307 $360.13 $1,430.56 $1,790.69 $85,000.97
Apr, 2049 308 $354.17 $1,436.52 $1,790.69 $83,564.45
May, 2049 309 $348.19 $1,442.50 $1,790.69 $82,121.95
Jun, 2049 310 $342.17 $1,448.52 $1,790.69 $80,673.43
Jul, 2049 311 $336.14 $1,454.55 $1,790.69 $79,218.88
Aug, 2049 312 $330.08 $1,460.61 $1,790.69 $77,758.27
Sep, 2049 313 $323.99 $1,466.70 $1,790.69 $76,291.57
Oct, 2049 314 $317.88 $1,472.81 $1,790.69 $74,818.76
Nov, 2049 315 $311.74 $1,478.95 $1,790.69 $73,339.81
Dec, 2049 316 $305.58 $1,485.11 $1,790.69 $71,854.70
Jan, 2050 317 $299.39 $1,491.30 $1,790.69 $70,363.40
Feb, 2050 318 $293.18 $1,497.51 $1,790.69 $68,865.89
Mar, 2050 319 $286.94 $1,503.75 $1,790.69 $67,362.14
Apr, 2050 320 $280.68 $1,510.01 $1,790.69 $65,852.13
May, 2050 321 $274.38 $1,516.31 $1,790.69 $64,335.82
Jun, 2050 322 $268.07 $1,522.62 $1,790.69 $62,813.20
Jul, 2050 323 $261.72 $1,528.97 $1,790.69 $61,284.23
Aug, 2050 324 $255.35 $1,535.34 $1,790.69 $59,748.89
Sep, 2050 325 $248.95 $1,541.74 $1,790.69 $58,207.15
Oct, 2050 326 $242.53 $1,548.16 $1,790.69 $56,658.99
Nov, 2050 327 $236.08 $1,554.61 $1,790.69 $55,104.38
Dec, 2050 328 $229.60 $1,561.09 $1,790.69 $53,543.29
Jan, 2051 329 $223.10 $1,567.59 $1,790.69 $51,975.70
Feb, 2051 330 $216.57 $1,574.12 $1,790.69 $50,401.58
Mar, 2051 331 $210.01 $1,580.68 $1,790.69 $48,820.90
Apr, 2051 332 $203.42 $1,587.27 $1,790.69 $47,233.63
May, 2051 333 $196.81 $1,593.88 $1,790.69 $45,639.75
Jun, 2051 334 $190.17 $1,600.52 $1,790.69 $44,039.23
Jul, 2051 335 $183.50 $1,607.19 $1,790.69 $42,432.04
Aug, 2051 336 $176.80 $1,613.89 $1,790.69 $40,818.15
Sep, 2051 337 $170.08 $1,620.61 $1,790.69 $39,197.54
Oct, 2051 338 $163.32 $1,627.37 $1,790.69 $37,570.17
Nov, 2051 339 $156.54 $1,634.15 $1,790.69 $35,936.02
Dec, 2051 340 $149.73 $1,640.96 $1,790.69 $34,295.06
Jan, 2052 341 $142.90 $1,647.79 $1,790.69 $32,647.27
Feb, 2052 342 $136.03 $1,654.66 $1,790.69 $30,992.61
Mar, 2052 343 $129.14 $1,661.55 $1,790.69 $29,331.06
Apr, 2052 344 $122.21 $1,668.48 $1,790.69 $27,662.58
May, 2052 345 $115.26 $1,675.43 $1,790.69 $25,987.15
Jun, 2052 346 $108.28 $1,682.41 $1,790.69 $24,304.74
Jul, 2052 347 $101.27 $1,689.42 $1,790.69 $22,615.32
Aug, 2052 348 $94.23 $1,696.46 $1,790.69 $20,918.86
Sep, 2052 349 $87.16 $1,703.53 $1,790.69 $19,215.33
Oct, 2052 350 $80.06 $1,710.63 $1,790.69 $17,504.70
Nov, 2052 351 $72.94 $1,717.75 $1,790.69 $15,786.95
Dec, 2052 352 $65.78 $1,724.91 $1,790.69 $14,062.04
Jan, 2053 353 $58.59 $1,732.10 $1,790.69 $12,329.94
Feb, 2053 354 $51.37 $1,739.32 $1,790.69 $10,590.62
Mar, 2053 355 $44.13 $1,746.56 $1,790.69 $8,844.06
Apr, 2053 356 $36.85 $1,753.84 $1,790.69 $7,090.22
May, 2053 357 $29.54 $1,761.15 $1,790.69 $5,329.07
Jun, 2053 358 $22.20 $1,768.49 $1,790.69 $3,560.58
Jul, 2053 359 $14.84 $1,775.85 $1,790.69 $1,784.73
Aug, 2053 360 $7.44 $1,784.73 $1,792.17 $0.00

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Interest Only Loan Calculator Excel

The interest only loan calculator excel with amortization will calculate the monthly payment based on mortgage amount, loan terms, interest rate, and the starting payment date. The interest only calculator will show a printable interest only loan amortization that is downloadable as a PDF. If you need to plug in more information such as the PMI, tax insurance, or any other data, please use the Mortgage Calculator With PMI and extra payment.


Mortgage Calculator for Interest Only Loan

The rate for interest rate only loans can change from month to month or it can be fixed for 10 years. The borrower only pays interest on the loan for a term that generally lasts for 5 to 7 years. At the end of the term, the borrower can either start paying principal on the mortgage or pay off the mortgage by making a lump sum payment or they can choose to refinance their home. This mortgage calculator for interest only loans calculates the initial interest only mortgage payments and monthly mortgage payments including principal after the interest only period term.


What are interest only mortgages?

An interest only mortgage is a mortgage that gives a borrower the option to make only interest payments for a certain period before the regular payments start to kick in. The interest only period could be anywhere from 5 to 10 years on a 30-year term. When the initial interest only period ends, the interest rate for the loan becomes adjustable which means the interest rate varies each year. On a conventional mortgage, the monthly payments consist of two parts, the interest, and the principal. Since an interest only mortgage allows a borrower to pay only the interest for the first several years, the monthly payment is smaller than a conventional mortgage. This type of interest only loan is attractive to those who can't afford large monthly payments, but borrowers end up paying much more for the life of the loan. When the interest only period ended, many borrowers got into trouble because the monthly payments increased as they now are required to pay the principal on top of the interest payment, and their interest rate could go up since it is adjustable after the initial interest only period is over.


Pros and cons of an interest only mortgage?

Following is a list of the pros and cons of an interest only mortgage. Pros

  • Lower Monthly Payment - The monthly payments are lower in the interest only period since the borrower is only required to make interest payments.

  • Afford To Buy a House - Interest only mortgage helps some borrowers buy a house that they couldn't afford otherwise.

  • Lower Rates Initially - The initial rate for interest only mortgage are generally lower than a fixed-rate mortgage since they are adjustable after the interest only period ended.

  • More Cash Flow - Since borrowers are only required to make interest payments each month, they will have more cash in their pockets for other use.
Cons
  • No Equity in Your Home - Since you are not making principal payment, you are not building equity in your home.

  • Increase Monthly Payment - After the interest only period, your monthly payments will be much larger since you are now required to make principal payments in addition to the interest payments.

  • Interest Rate Going Up - Since the interest rate will become adjustable after the interest only period, it could go up substantially, and a borrower might not be able to repay the loan.

  • Balloon Payment - Some interest only loan requires a big lump sum payment or balloon payment at the end of the loan term.


Interest only mortgage requirements

The requirement for an interest only mortgage is generally stricter than conventional mortgages because they are riskier for lenders. The lender may require the borrower to have a higher credit score, a bigger down payment, and lower debt to income ratio. The banks want to make certain that they can get their money back plus interest.


Should I get an interest only mortgage?

We do not recommend interest only mortgages for most people as they are way riskier than a fixed-interest loan. Some people use interest-only mortgages for investment purposes, to buy houses that they otherwise couldn't afford, expecting the housing market to go up. While houses do appreciate over time, recessions happen. During the housing bubble of 2008, many people lost their homes because they couldn't afford mortgage payments. Think twice if you are really thinking of getting an interest only mortgage, use our interest only mortgage calculator to calculate the costs and the monthly payments. Please note, our interest only loan calculator does not take into account the adjustable rate.

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