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mortgage calculators bread crumb mortgage calculators > Interest only mortgage

Interest only mortgage

Experience the joy of knowing the monthly savings with interest-only payment plan. It is plan which you pay the interest without re-paying the principal. This works great when the prices increase and no intention of staying or owning permanently. Suppose you bought a house, condo, or property and paid only interest only, you hold on the property for five years. When you sold the property, you have a whopping huge profit when you sold the property. Since you pay only the interest, the interest is one hundred percent deductible. With the click of Calculate button of this mortgage calculator, the results shows the regular payment and interest only payment. Since you pay only the interest, the interest only payment is considerably lower than regular payment. This interest only mortgage calculator is also one of our mortgage calculators.

Enter values that implies your situation
Total Mortgage Amount: $ Click here for mortgage term definition
Actual Interest Rate: % Click here for mortgage term definition
Mortgage Term: years Click here for mortgage term definition

Mortgage Calculator Definition of Terms

Total Mortgage Amount

It is the amount that the borrower wishes to borrow. For example, 250000.

Mortgage Term

The number of years to amortized the mortgage loan. For example, 20, 25, or 30 years are common

Actual Interest Rate

The percentage of an amount of money which is paid for its use for a specified time. For example, 5.25 quotes by lender

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Information and calculation provided on this mortgage calculators website is for general purposes only. It is not intended to take the place of advice from your mortgage brokers.