Calculadora de Hipoteca Solo Intereses Gratis

Calcula los pagos durante el período de solo intereses y la transición a pagos de amortización completa.

USD
%
years
years

Interest-Only Monthly Payment

$2,916.67

Amortizing Monthly Payment$3,876.49
Payment Increase at Amortization$959.83
Total Interest (IO period)$350,000
Total Interest (amortizing period)$430,359
Total Interest Over Loan Life$780,359

Interest-Only Monthly Payment vs Interest-Only Period

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Fórmula

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

  • Lower initial payments for improved cash flow
  • Useful for investors who plan to sell before amortization begins
  • Can invest the difference between IO and fully amortizing payments

    • Risks

  • No equity built during IO period (except through appreciation)
  • Payment shock when amortization begins
  • Higher total interest paid over the loan life

    • Ejemplo Resuelto

    A $500,000 loan at 7% interest, 10-year IO period, 30-year total term.

    1. 01Monthly rate: 7% / 12 = 0.5833%
    2. 02IO payment: $500,000 x 0.005833 = $2,916.67/month
    3. 03IO period interest: $2,916.67 x 120 = $350,000
    4. 04Amortizing period: 20 years = 240 months
    5. 05Amortizing payment: $500,000 over 240 months at 7% = $3,876.83/month
    6. 06Payment shock: $3,876.83 - $2,916.67 = $960.16 increase
    7. 07Amortizing period interest: $3,876.83 x 240 - $500,000 = $430,439
    8. 08Total interest: $350,000 + $430,439 = $780,439

    Preguntas Frecuentes

    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.

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