Interest Only Mortgage Calculator

Step-by-Step Guide:

1. Enter Your Loan Details:

   • Loan Amount: Input the total amount of your mortgage loan.
   • Interest Rate: Add the annual interest rate you’re paying.
   • Loan Term: Enter the duration of your loan in years.

2. Select Interest-Only Period:

   • Choose the number of years during which you’ll make interest-only payments before switching to principal and interest.

3. Calculate:

   • Click the “Calculate” button, and the tool will instantly display your monthly interest-only payment.

What You’ll Get:

• A clear breakdown of how much you’ll pay each month during the interest-only period.
• Insight into how different loan terms and rates impact your payments.

With this easy-to-use tool, you can plan your mortgage payments and manage your finances more confidently!