Interest-Only vs. Traditional Mortgage

An interest-only mortgage may be enticing due to lower initial payments than a traditional mortgage. However, when the interest-only loan begins to amortize after 5, 10 or 20 years then your monthly payments will be higher. Use this calculator to determine the monthly payments, timing and total interest paid with each loan type.

  • Calculator Introduction

    An interest-only mortgage may be enticing due to lower initial payments than a traditional mortgage. However, when the interest-only loan begins to amortize after 5, 10 or 20 years then your monthly payments will be higher. Use this calculator to determine the monthly payments, timing and total interest paid with each loan type.