Interest Only Payment Option Calculator

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Interest Only Payment Calculator

Loan Amount:
Interest Rate¹:		%

Payment Options
30-Year Principal and Interest Payment:	$599.55
Interest Only Payment²:	$500.00
Monthly Savings³:	$99.55

Assumptions:

¹ The interest-only payment and the monthly savings will change as the interest rate changes. Rates are for calculation purposes only, please call your loan officer for rate quotes.

² The interest-only payment option is only available during the initial interest only payment period. This is only in the first ten to fifteen years. Some programs have shorter initial interest only periods. For example: on a 5/1 ARM, the interest-only period may be only the first five years.

³ Monthly savings is based on the thirty-year, amortized principal and interest payment.

1 Forge Village Road, Suite 2B - Groton, MA 01450
Groton, MA Office: 978-448-1285 eFax: (508) 355-5343
Cell Phone: (617) 461-2970 EMAIL: acardinali@mortgagemasterinc.com

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You can find great local Groton, Massachusetts real estate information on Localism.com Tony Cardinali is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

Mortgage Master, Inc., Groton, MA Branch Lender/Broker# (MC5439), (NH-15434-MB-BCH)

Loan Originator# MLO21336 - Massachusetts, NH21336 - New Hampshire