Nicquee's Nook

  • Home
  • About
  • Free Printables
  • Cook with Me
  • Contact
  • Disclosure Policy

Compare Monthly Payments With an Interest-Only Mortgage Calculator

With an interest only mortgage calculator, you can find out how much your monthly payment would be depending on factors you provide for the calculation. Typical factors include the total amount you need to borrow, known as the principal; the number of years you’ll be paying on the loan, or the term; and the interest rate for the loan. With an interest-only loan, any of these factors can change the estimated monthly payment. For example, changing the interest rate to a higher number will increase the monthly payment. Lowering the term or increasing the principal can also cause an increase.

An interest-only loan works well for individuals with uncertain income, such as a commission-based one. Using an interest-only calculator gives you a point to use for comparison to other loans. You can look at the estimated amortization schedule and determine whether or not you’ll save money in the long run with the interest-only mortgage. Based on the calculations, you may find you can afford to pay the principal and the interest, which may allow you pay the loan off sooner because a part of every payment lowers the outstanding balance. You can add in additional money each month to see how that affects the monthly payment and the loan payoff.

If you want to use a calculator for an interest-only loan for information, check out free ones on the Internet. After you find the information you need, you can email it to yourself or print a PDF of the calculations for your records. Some websites allow you to compare different mortgage options on the same screen, so you can easily compare and contrast your options. If you need more advice about whether or not to secure an interest-only loan, you can use the calculations as a starting point to discuss the matter with a financial advisor.

Read more…

Related Posts

  • Digital real estate selling made easy by Lumina Homes; commission rate increases 6%
  • Filipino Bloggers Network holds 10th Annual Thanksgiving Party
  • Lumina Homes launches special Christmas giveaway promo for OFWs and its sellers
  • World’s No. 1 Prayer App names Gary V as Philippine Ambassador
  • Fatigue Coping Strategies for Healthy Blood and Immunity
  • Lamudi Honors Buyers’ Choice in The Outlook Awards
  • Be Back Really Soon
  • Create a Striking Tabletop
  • Retail Fixtures and Supplies
  • Instrumental Music

Leave a Comment Filed Under: Uncategorized Tagged With: earning cash online, interest only mortgage calculator, stumbled upon

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *



Hi there! I'm Nicquee and this is my little space in this world wide web. I'm a mom of two and is happily married. I started this blog as literally my online journal where I dump my emotions. Over the years, I realized that there is more to write about. Feel free to browse through and I hope you find a thing or two that is relatable to you. If that happens, give me a shout-out!

Stay Connected

Get Updates Via Email

Recent Posts

  • Digital real estate selling made easy by Lumina Homes; commission rate increases 6%
  • Healthy, Hassle-Free Holiday Bundles from The Goodwill Market
  • Christmas Feast That You’ll Love
  • Filipino Bloggers Network holds 10th Annual Thanksgiving Party
  • Lumina Homes launches special Christmas giveaway promo for OFWs and its sellers
  • Surviving the Pandemic with Cebuana Lhuillier Micro Savings
  • World’s No. 1 Prayer App names Gary V as Philippine Ambassador
  • Spa day at home? Here’s how you can make it extra special with Speaks G
  • Kwentong Kakanin
  • Home Foodie Video Series: Kids Kitchen Camp

Categories

Archives

Popular Posts

  • Claiming SSS Sickness Benefit
  • Where Should I Put My Baking Pan Inside the Oven?
  • Review: 3W Clinic Intensive UV Sunblock Cream
  • Malunggay Pesto Sauce
  • Cream Dory in Garlic Butter Sauce

Copyright © 2022 · Design goodness from Squeesome!