Interest Only / Conventional Calculator

This allows for a loan of a certain length where the first few years are interest only with a reduced payment, and the balance is then amortized out to a standard conventional fixed rate loan for the remainder of the loan term.
Loan Amount (commas will be removed)

Annual Interest Rate

Periods Interest Only (Typically in Months)

Periods per Year (12 for monthly, 26 for bi-weekly, 52 for weekly, etc.)

Total Number of Payments OR Total Number of Years

Your interest only rate per period : 0.5833 %
For 24 total periods ( 2.0000 years) for an interest only payment of $ 583.33
Your amortized interest rate per period : 0.5833 %
For 96 total periods ( 8.0000 years) for an amortized payment of $ 1363.37

PeriodYearsBalanceInterest PrincipalTotal Payment
1 0.083100000.00 583.33 0.00 583.33
2 0.167100000.00 583.33 0.00 583.33
3 0.250100000.00 583.33 0.00 583.33
4 0.333100000.00 583.33 0.00 583.33
5 0.417100000.00 583.33 0.00 583.33
6 0.500100000.00 583.33 0.00 583.33
7 0.583100000.00 583.33 0.00 583.33
8 0.667100000.00 583.33 0.00 583.33
9 0.750100000.00 583.33 0.00 583.33
10 0.833100000.00 583.33 0.00 583.33
11 0.917100000.00 583.33 0.00 583.33
12 1.000100000.00 583.33 0.00 583.33
13 1.083100000.00 583.33 0.00 583.33
14 1.167100000.00 583.33 0.00 583.33
15 1.250100000.00 583.33 0.00 583.33
16 1.333100000.00 583.33 0.00 583.33
17 1.417100000.00 583.33 0.00 583.33
18 1.500100000.00 583.33 0.00 583.33
19 1.583100000.00 583.33 0.00 583.33
20 1.667100000.00 583.33 0.00 583.33
21 1.750100000.00 583.33 0.00 583.33
22 1.833100000.00 583.33 0.00 583.33
23 1.917100000.00 583.33 0.00 583.33
24 2.000100000.00 583.33 0.00 583.33
25 2.083100000.00 583.33 780.04 1363.37
26 2.16799219.96 578.78 784.59 1363.37
27 2.25098435.37 574.21 789.16 1363.37
28 2.33397646.21 569.60 793.77 1363.37
29 2.41796852.44 564.97 798.40 1363.37
30 2.50096054.04 560.32 803.05 1363.37
31 2.58395250.99 555.63 807.74 1363.37
32 2.66794443.25 550.92 812.45 1363.37
33 2.75093630.80 546.18 817.19 1363.37
34 2.83392813.61 541.41 821.96 1363.37
35 2.91791991.65 536.62 826.75 1363.37
36 3.00091164.90 531.80 831.57 1363.37
37 3.08390333.33 526.94 836.43 1363.37
38 3.16789496.90 522.07 841.30 1363.37
39 3.25088655.60 517.16 846.21 1363.37
40 3.33387809.39 512.22 851.15 1363.37
41 3.41786958.24 507.26 856.11 1363.37
42 3.50086102.13 502.26 861.11 1363.37
43 3.58385241.02 497.24 866.13 1363.37
44 3.66784374.89 492.19 871.18 1363.37
45 3.75083503.71 487.10 876.27 1363.37
46 3.83382627.44 481.99 881.38 1363.37
47 3.91781746.06 476.85 886.52 1363.37
48 4.00080859.54 471.68 891.69 1363.37
49 4.08379967.85 466.48 896.89 1363.37
50 4.16779070.96 461.25 902.12 1363.37
51 4.25078168.84 455.98 907.39 1363.37
52 4.33377261.45 450.69 912.68 1363.37
53 4.41776348.77 445.37 918.00 1363.37
54 4.50075430.77 440.01 923.36 1363.37
55 4.58374507.41 434.63 928.74 1363.37
56 4.66773578.67 429.21 934.16 1363.37
57 4.75072644.51 423.76 939.61 1363.37
58 4.83371704.90 418.28 945.09 1363.37
59 4.91770759.81 412.77 950.60 1363.37
60 5.00069809.21 407.22 956.15 1363.37
61 5.08368853.06 401.64 961.73 1363.37
62 5.16767891.33 396.03 967.34 1363.37
63 5.25066923.99 390.39 972.98 1363.37
64 5.33365951.01 384.71 978.66 1363.37
65 5.41764972.35 379.01 984.36 1363.37
66 5.50063987.99 373.26 990.11 1363.37
67 5.58362997.88 367.49 995.88 1363.37
68 5.66762002.00 361.68 1001.69 1363.37
69 5.75061000.31 355.84 1007.53 1363.37
70 5.83359992.78 349.96 1013.41 1363.37
71 5.91758979.37 344.05 1019.32 1363.37
72 6.00057960.05 338.10 1025.27 1363.37
73 6.08356934.78 332.12 1031.25 1363.37
74 6.16755903.53 326.10 1037.27 1363.37
75 6.25054866.26 320.05 1043.32 1363.37
76 6.33353822.94 313.97 1049.40 1363.37
77 6.41752773.54 307.85 1055.52 1363.37
78 6.50051718.02 301.69 1061.68 1363.37
79 6.58350656.34 295.50 1067.87 1363.37
80 6.66749588.47 289.27 1074.10 1363.37
81 6.75048514.37 283.00 1080.37 1363.37
82 6.83347434.00 276.70 1086.67 1363.37
83 6.91746347.33 270.36 1093.01 1363.37
84 7.00045254.32 263.98 1099.39 1363.37
85 7.08344154.93 257.57 1105.80 1363.37
86 7.16743049.13 251.12 1112.25 1363.37
87 7.25041936.88 244.63 1118.74 1363.37
88 7.33340818.14 238.11 1125.26 1363.37
89 7.41739692.88 231.54 1131.83 1363.37
90 7.50038561.05 224.94 1138.43 1363.37
91 7.58337422.62 218.30 1145.07 1363.37
92 7.66736277.55 211.62 1151.75 1363.37
93 7.75035125.80 204.90 1158.47 1363.37
94 7.83333967.33 198.14 1165.23 1363.37
95 7.91732802.10 191.35 1172.02 1363.37
96 8.00031630.08 184.51 1178.86 1363.37
97 8.08330451.22 177.63 1185.74 1363.37
98 8.16729265.48 170.72 1192.65 1363.37
99 8.25028072.83 163.76 1199.61 1363.37
100 8.33326873.22 156.76 1206.61 1363.37
101 8.41725666.61 149.72 1213.65 1363.37
102 8.50024452.96 142.64 1220.73 1363.37
103 8.58323232.23 135.52 1227.85 1363.37
104 8.66722004.38 128.36 1235.01 1363.37
105 8.75020769.37 121.15 1242.22 1363.37
106 8.83319527.15 113.91 1249.46 1363.37
107 8.91718277.69 106.62 1256.75 1363.37
108 9.00017020.94 99.29 1264.08 1363.37
109 9.08315756.86 91.92 1271.45 1363.37
110 9.16714485.41 84.50 1278.87 1363.37
111 9.25013206.54 77.04 1286.33 1363.37
112 9.33311920.21 69.53 1293.84 1363.37
113 9.41710626.37 61.99 1301.38 1363.37
114 9.500 9324.99 54.40 1308.97 1363.37
115 9.583 8016.02 46.76 1316.61 1363.37
116 9.667 6699.41 39.08 1324.29 1363.37
117 9.750 5375.12 31.35 1332.02 1363.37
118 9.833 4043.10 23.58 1339.79 1363.37
119 9.917 2703.31 15.77 1347.60 1363.37
12010.000 1355.71 7.91 1355.46 1363.37
12110.083 0.25 0.00 0.25 1363.37

Total Interest $ 44,883.69

DISCLAIMER: This information is for illustrative purposes only. Numbers may be off by $0.01 per month due to differing methods of rounding so the results are not exact. Also note that the schedule generated here applies only to a loan where all payments are made in full in a timely manner. It does not include any late fees or additional accrued interest due to late payments.
Calculators - Hugh