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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.




1st Advantage Mortgage - 701 E. 22nd St. Suite 125 - Lombard, IL 60148
Office Phone: (630) 376-0555 Fax: (630) 261-2228 Cell Phone: (630) 306-5626

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We Are licensed to lend in the following states: Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Mexico, North Carolina, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, Washington, Wisconsin & Wyoming.

An Illinois Residential Licensee

 

 


You can find great local Lombard, Illinois real estate information on Localism.com Keith Hoffman is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.




AAMB - Arizona Association of Mortgage Brokers Equal Housing Lender FAMB - Florida Association of Mortgage Brokers MBA NAMB - National Association of Mortgage Brokers TAMB - Texas Association of Mortgage Brokers

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