Interest Only Loans versus Conventional Loans

This calculator allows you compare interest only versus conventional amortized loans. Enter the balance and rate for each loan. Clicking the "IOP" button calculates the interest only payment Clicking the "30" or "15" buttons generates the payments for 30 and 15 year fixed rate loans respectively.

 IntOnly Loan Conv Loan
 Balance Rate Payment
Balance Rate Payment
DISCLAIMER: This information is for illustrative purposes only. Numbers may be off by $0.01 per month due to differing methods of rounding so the results are not exact. Also note that the schedule generated here applies only to a loan where all payments are made in full in a timely manner. It does not include any late fees or additional accrued interest due to late payments.