Interest Only With Additional Payment Mortgage Calculator

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Interest Only With Additional Payment Mortgage Calculator

For the loan amount of $250,000.00, with a term of 5 years and interest rate of 5%, and the $4,717.81 including the additional monthly payment for your interest-only mortgage loan, you will experience interest savings of $0.00. Your average monthly payment with an additional payment will grow to $4,717.81, and your total monthly payments will grow to $283,068.50.

In addition, by increasing your monthly payments, you will enjoy an equity appreciation of ##equityappreciationadditionalpayment##. The amortization schedule gives you a better picture of how your principal (equity) and mortgage balance are impacted by making additional payments to principal during the course of your interest-only loan. This can be a way to still build equity and chip away at your overall balance while only paying on the interest during the first part of your loan.

 
Current Interest Rates
PRODUCT +/- Rate Last week
30 year fixed Arrow 4.09% 4.16%
15 year fixed Arrow 3.25% 3.30%
5/1 ARM Arrow 3.28% 3.36%
PRODUCT +/- Rate Last week
30 year fixed refi Arrow 4.09% 4.17%
15 year fixed refi Arrow 3.25% 3.34%
10 year fixed refi Arrow 3.15% 3.18%
PRODUCT +/- Rate Last week
60 month used car loan Arrow 3.20% 3.20%
48 month used car loan Arrow 3.18% 3.19%
60 month new car loan Arrow 3.44% 3.44%
PRODUCT +/- Yield Last week
6 Month CD Arrow 0.75% 0.71%
1 Year CD Arrow 1.24% 1.24%
2 Year CD Arrow 1.41% 1.41%
PRODUCT Rate
MMA and SAVINGS 0.58%
$10k MMA 0.57%
Interest Checking 0.43%
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