Interest Only Mortgage Calculator

An interest-only loan feels cheap — until the interest-only period ends and the payment jumps. Enter the loan amount, rate, IO period and total term to see both payments, and the total interest you'll pay for the privilege of the low start.

Tool Features

• Interest-only monthly payment
• Payment after amortization begins
• How much the payment jumps
• Total interest vs a fully amortizing loan
• No registration or software installation

Common Usage

• See the real cost of an IO loan
• Plan for the payment reset shock
• Compare IO against a standard mortgage
• Check whether you can afford the jump