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Interest Only Mortgage Formula:
Interest Only Mortgage Payment = Mortgage Amount * Annual Interest Rate / 12
Interest Only Mortgage Definition
The Interest Only Mortgage Calculator will calculate the mortgage payment for an interest only loan if you enter in the mortgage amount and the mortgage interest rate. An interest only mortgage is a type of mortgage where the mortgage payment is comprised 100% of interest and no principal. Try out the free online interest only mortgage calculator to calculate an interest only mortgage payment now!
How to Calculate Interest Only Mortgage
Let's be honest - sometimes the best interest only mortgage calculator is the one that is easy to use and doesn't require us to even know
what the interest only mortgage formula is in the first place! But if you want to know the exact formula for calculating interest only mortgage then please check out the "Formula" box above.
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You can get a free online interest only mortgage calculator for your website and you don't even have to download the interest only mortgage calculator - you can just copy and paste! The interest only mortgage calculator exactly as you see it above is 100% free for you to use. If you want to customize the colors, size, and more to better fit your site, then pricing starts at just $29.99 for a one time purchase. Click the "Customize" button above to learn more!