Kostenloser Interest-Only Hypotheken Rechner
Berechnen Sie interest-only mortgage payments for both the IO period und amortizing period. See the payment shock und total interest cost over the loan life.
Interest-Only Monthly Payment
$2,916.67
Interest-Only Monthly Payment vs Interest-Only Period
Formel
Interest-Only Mortgages
An interest-only mortgage allows you to pay only the interest for an initial period (typically 5-10 years), after which the loan converts to fully amortizing payments.
How Payments Work
Interest-Only Period: Monthly Payment = Loan Balance x (Annual Rate / 12)
Amortizing Period: Standard P&I payment calculated on the full balance over remaining years
Advantages
Risks
Lösungsbeispiel
A $500,000 loan at 7% interest, 10-year IO period, 30-year total term.
- 01Monthly rate: 7% / 12 = 0.5833%
- 02IO payment: $500,000 x 0.005833 = $2,916.67/month
- 03IO period interest: $2,916.67 x 120 = $350,000
- 04Amortizing period: 20 years = 240 months
- 05Amortizing payment: $500,000 over 240 months at 7% = $3,876.83/month
- 06Payment shock: $3,876.83 - $2,916.67 = $960.16 increase
- 07Amortizing period interest: $3,876.83 x 240 - $500,000 = $430,439
- 08Total interest: $350,000 + $430,439 = $780,439
Häufig Gestellte Fragen
Can I make principal payments during the IO period?
Yes. Most interest-only mortgages allow optional principal payments during the IO period. Any principal paid reduces the balance that will be amortized later, lowering your future amortizing payment.
Who should consider an interest-only mortgage?
IO mortgages suit borrowers with irregular income (bonuses, commissions), real estate investors planning short holds, high-income borrowers who prefer to invest the payment difference, and those confident they will refinance or sell before amortization.
How much more interest do IO mortgages cost?
Significantly more. Because no principal is paid during the IO period, you pay interest on the full balance for those years. A $500,000 IO loan at 7% costs roughly $100,000-$150,000 more in total interest compared to a standard 30-year fully amortizing loan.