Interest-Only Mortgage Calculator
During the interest-only period you pay only the interest, so payments are low — but the balance doesn't fall. When it ends, payments jump to amortize the loan.
Your details
Interest-only payment
$2,166.67
- Payment after IO period
- $2,982.29
- Total interest
- $575,750.21
Interest-only vs full payment
- Interest-only payment
- $2,166.6742%
- Payment after interest-only period
- $2,982.2958%
Interest-only payment$2,166.67
Formula
Interest-only payment = balance × monthly rate. After the IO period, the balance amortizes over the remaining years.
Frequently asked questions
What's the catch with interest-only?⌄
You build no equity during the interest-only period, and the payment rises — often sharply — once amortization begins. Plan for that jump.
Sources & methodology
- •CFPB — mortgages — CFPB
Last updated: 2026-07-20
Also on your phone
Numveo for Android
200+ financial calculators — mortgage, loans, taxes, retirement. Fast, private, and fully offline.
Embed this calculator⌄
Paste this into your page — it works with no key and computes in the visitor's browser. The short credit line links back to Numveo; please keep it.
<iframe src="https://numveo.com/embed/interest-only-mortgage-calculator" width="100%" height="640" style="border:0" loading="lazy" title="Interest-Only Mortgage Calculator"></iframe>
<p style="font:13px/1.5 system-ui,sans-serif;color:#52514e;margin:6px 0"><a href="https://numveo.com/mortgage/interest-only-mortgage-calculator" target="_blank" rel="noopener">Interest-Only Mortgage Calculator</a> by <a href="https://numveo.com" target="_blank" rel="noopener">Numveo</a></p>