Our Interest Only Mortgage Calculator will help you if you are considering an interest only mortgage due to the monthly savings. This calculator will run numbers for you so you can see if the savings is valuable enough to you to move forward.

Remember, you will not be building any equity with an interest only payment option nor will you get the advantages of the mortgage interest tax deduction. Basically the interest only option turns you into a "renter" with title. So this is only a realistic option if you have a very short hold period anyway. But now you can decide for yourself.

Be sure to favorite this page to make it easy to return over and over again! Use the link "Back to the Calculators" to return to the Mortgage Calculators menu and try other Calculators

Instructions: Starting with the first line of entry fields, change the values in each one to suit your scenario. Hit "Calculate" to move forward.

The results will allow you to see the difference in monthly payment over a fully amortized mortgage payment.

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