Interest Only Mortgage (IOM) Calculator
Calculate your interest-only mortgage by entering loan amount, annual interest rate and payment frequency to find out the monthly payment.
Result Interest Only Mortgage $0
Related Calculators: Adjusted Funds From Operations (AFFO) Calculator, After Tax Cost Of Debt (After-Tax COD) Calculator, Compound Interest Calculator, After Repair Value (ARV) Calculator, Altman Zscore (AZ) Calculator, Annualized Return Calculator, Appreciation Calculator, Asset Allocation Calculator: Find the Perfect Balance of Risk and Reward, Bond Current Yield (BCY) Calculator, Capital Asset Pricing Model (CAPM) Calculator,
Formula
$15500 * ( ( 25% / 100.0 ) / 1 ) = 3875.0.John borrowed $15,500 to buy his first home, and his monthly payment is $3875.00. This amount represents how much John pays each month towards paying off only the interest on his mortgage.
Meaning
The Interest Only Mortgage (IOM) Calculator is designed to help you understand how much you can borrow and afford on an IOM. It takes into account your monthly income, expenses, debts, and other financial obligations to determine the maximum loan amount you can afford with interest-only payments.
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