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Interest Only Comparison Calculator

Compares an interest-only loan to an existing loan and a new standard loan.

Existing Loan
Current Balance
Interest (APR)
Start Date of Loan	Month January February March April May June July August September October November December 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990
Original Length of Loan	50 Years 40 Years 30 Years 20 Years 15 Years 10 Years 7 Years 5 Years
Interest Only Loan
Principal
Interest (APR)
Additional Monthly Payment
New Loan - Standard
Principal
Interest (APR)
Length of Loan	50 Years 40 Years 30 Years 20 Years 15 Years 10 Years 7 Years 5 Years
Compare these loans over	3 Years 5 Years 7 Years 10 Years
DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.

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