Interest-Only Calculator

An interest-only loan is a type of loan where your monthly payments are applied solely to the interest of the amount borrowed, at a fixed interest rate. The interest-only terms at American Equity Financial typically last for 6 to 12 months. Unlike traditional loans, an interest-only hard money loan will not begin amortizing, meaning you won’t start paying both principal and interest until the remainder of the loan term, and it won’t come with an adjustable interest rate.

Using an interest-only mortgage payment calculator helps you estimate your monthly mortgage payments by factoring in your interest-only loan term, interest rate, and loan amount. The result will show you what your estimated interest-only mortgage payment would be for the interest-only period. The calculator on the right can also compare this to what your payments would be with a traditional lender.