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HomeStart e-ALERT: July 21, 2008
The Home Equity Chill
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Interest Only Payments
This calculator will help determine what the amortization schedule will be for an interest only mortgage loan. Use this calculator to evaluate the impact of principal payment and to look at the interest cost of the loan.
Calculations
Mortgage Amount:
$
Term of loan:
40 year
35 year
30 year
25 year
20 year
15 year
10 year
5 year
Years
Interest only period:
15 year
14 year
13 year
12 year
11 year
10 year
9 year
8 year
7 year
6 year
5 year
4 year
3 year
2 year
1 year
Years
Interest Rate:
%
Your Results
Interest Only Monthly Payment:
$
708.33
Click
HERE
for monthly amortization schedule
Click
HERE
for yearly amortization schedule
The accuracy and use of this calculator is not guaranteed.
Contact Info
send email
Brian Dixon
President/CEO
ph. 312.251.1889
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HomeStart Mortgage Corporation - 11 South LaSalle Street Suite 700 , Chicago, IL 60603
Illinois Residential Mortgage Licensee #4600
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