When you take out an interest-only loan, you generally
just pay the interest and none of the principal for a specified period of time. Once the interest is paid off, you then
begin to pay off the principle. But what if you want to pay some of the principal along with the interest-only payments? Use this calculator to
determine what you’ll be paying during the interest-only period if you decide to pay some of the principal along with
your interest-only payments.
Input
Financial Analysis
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Interest-Only
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With Prepayments
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Average Period Payments
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$1,062.50
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$1,064.82
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Months Paid
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360
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360
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Total Monthly Payment
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$382,500.00
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$383,335.31
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Total Interest Paid
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$382,500.00
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$365,335.31
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Interest Savings
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$17,164.69
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Remaining Balance
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$200,000.00
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$182,000.00
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Total Principal Paid
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$18,000.00
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DISCLAIMER:
Although this is an estimation of the information you provided, none of these
figures are guaranteed. Final statistics can only be given by the financial
institution that supplies you with the loan or other financial services. You
must double check with your provider to ensure accurate information. Please
read the Terms of Use
for further details.
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