Interest Only Payment Option Calculator

Interest Only Payment Calculator

Loan Amount:
Interest Rate¹:		%

Payment Options
30-Year Principal and Interest Payment:	$599.55
Interest Only Payment²:	$500.00
Monthly Savings³:	$99.55

Assumptions:

¹ The interest-only payment and the monthly savings will change as the interest rate changes. Rates are for calculation purposes only, please call your loan officer for rate quotes.

² The interest-only payment option is only available during the initial interest only payment period. This is only in the first ten to fifteen years. Some programs have shorter initial interest only periods. For example: on a 5/1 ARM, the interest-only period may be only the first five years.

³ Monthly savings is based on the thirty-year, amortized principal and interest payment.

Classic Home Mortgage, Inc. NMLS ID# 182005 - 330 Harrison Bridge Road Suite C - Simpsonville, SC 29680
Office: (864) 962-9121 Fax: (864) 962-6872 Toll Free: (877) 962-9121

Call or apply online today! If you prefer we contact you, just click on the e-mail address below and send us the phone number and best time to call you. Classic Home Mortgage proudly serves the states of South Carolina and Florida.

joe@chmsc.net

NAMB - National Association of Mortgage Brokers