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Interest-Only Comparison Calculator

Compares an interest-only loan to an existing loan and a new standard loan.

Existing Loan
Current Balance
Interest (APR)
Start Date of Loan
Original Length of Loan
 
Interest Only Loan
Principal
Interest (APR)
Additional Monthly Payment
 
New Loan - Standard
Principal
Interest (APR)
Length of Loan
 
Compare these loans over
 
DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.