The interest only mortgage calculator helps you figure out what a monthly payment might be on an interest only mortgage loan. You simply enter the principal amount and interest rate. The interest only mortgage calculator is intended to help you make smart decisions about your home loan.

You'll notice that the interest only mortgage calculator shows some fairly low monthly payments. Remember that interest only loans are only paying the interest portion of a mortgage -- you're not building any equity. While the payment may be attractive, this may or may not be the best option for you in the long-run.

For details on how these mortgages work, read our overview of interest only loans.

Interest Only Mortgage Calculator

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