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Learn how Interest Only Mortgage Calculator Tips give you a Better Mortgage Program!

interest only mortgage calculator

A free online Interest Only Mortgage Calculator is one of the best tools in securing the best mortgage program if you follow these simple tips! Anyone can, and should learn them. Once you understand these mortgage calculator strategies, you're on your way to getting exactly what you want. Saving money!
Most people are confused on how the Interest Only Mortgage Program works. Yet it is perhaps the simplest of all to use and understand!

What is an Interest Only Calculator?

It's a tool in which you can calculate what your monthly payment will be. The payment calculated is all interest. Nothing is applied to your principal balance (the amount you owe or loan amount), unless you pay extra each month which will reduce your principal balance owed.

To calculate what your monthly mortgage payment will be, you only need to insert these three items when using your interest only mortgage calculator: 

  • Interest rate : the annual percentage rate.  
  • Loan amount : the amount you will be borrowing from the lender after your down payment. 
  • Term : how many years to pay off your loan

Simply put, an interest only mortgage calculator calculates an all interest payment. The amount of interest you pay every month is the interest rate you have at the time.

Your Loan Amount will never be paid off if you Select an Interest Only Mortgage Calculator Loan Program!

Let’s look at an example. If your beginning loan amount is $100,000 and you have an interest only loan, your loan in say (5) years will still be $100,000. This is assuming you still have an interest only loan and you paid nothing extra towards your principal balance.

As long as you have an interest only loan you essentially never pay it off! 

Is an Interest Only Mortgage Calculator Program Bad?

At first glance this all seems quite scary. It is because your loan amount will never get paid off if you select this program. It's almost really like renting your house. The only equity you can ever build up is over time when house values go up. And this does happen! Values over time normally increase.

Time is the only way to build your equity in an interest only mortgage calculator program.

Why would anyone select this type of mortgage program?


It’s because the monthly payment is lower! On larger loan amounts this is significantly lower. This is the reason why these loans are becoming so popular and gaining very strong borrower acceptance. Lower monthly payments means more money in your pocket to spend on other things!


Reasons for selecting an Interest Only Mortgage Calculator Program

In theory you should pay off your mortgage over time. But reality sometime dictates otherwise. Here's the reasons why you may sometimes have to, or want to go with an interest only mortgage calculator loan program, which will always give you the lowest payment: 

  • overtime is cut back
  • uncertain financial future outlook
  • need a (3) bedroom instead of a (2)
  • loss of job
  • spouse dies and don't want to move
  • unstable job market
  • school tuition spikes up
  • everything is going up and you need to cut your cost
  • you need a more expensive house but without the higher payment  

I see these situations everyday, and they are all very good reasons why you may want to select an interest only loan program!


If one of the above or some other of life’s problems occur, I would recommend taking out an Interest only mortgage calculator program.

You instantly have lower payments and your life stays financially the same.

You can weather the financial storm that's occurring in your life.

When things get better and you have the money, just start adding to your principal balance. This is a nifty option to have on your loan!

An Interest Only Mortgage Calculator Loan Program is a Life Saver.

And that’s why it's gaining strong momentum!


Interest Only Loans have Great loan flexibility!

What is really perfect about this program is you have the flexibility to add as much, or as little as nothing to your monthly payment.

You can add extra to reduce your loan amount every year if you desire on an interest only mortgage loan. Just send in extra along with your payment. That's all you do! Your lender will reduce your principal accordingly.

You can turn your loan into a (10), (15), (20), (25) or (30) year loan by how much extra you add to your monthly payment. You choose how much you want to pay!

Big Tip 

Instead of paying any principal on your loan, you can make monthly investments into a low risk, high return account and really benefit!

Instead of adding extra to your principal, invest It! Then you can pay off your house with that same investment in a few years.

Because of these reasons, I give an Interest Only Mortgage Calculator Program a very high recommendation!

Who has the best interest only mortgage calculator programs?


There are differences in rates from one lender to another. So I recommend getting three quotes. That's always the best way. Especially on interest only mortgage calculator programs! 


Maverick Lenders Leading the Way

There are what I refer to as Maverick Lenders leading the way in the mortgage industry. These lenders are Ultra service oriented. They are on the cutting edge for the best loan programs and the lowest interest rates.

    Not too many people have heard about them. They deal primarily online. They are great to work with in every way. They work hard at acquiring your business and they prove it to you by offering the best rates and loan programs the market has ever seen!

      You will win with these lenders on all levels and get what you're looking for. I highly recommend that you get a quote when working on your interest only mortgage calculator while visiting their web site, which you can access below.

      You can kill two birds with one stone. It's easy, just fill out their online form. It will take two minutes. I believe you'll be pleasantly surprised!


      These Maverick lenders have the easiest mortgage calculators online to use for free. Below are some links to access these maverick lenders and their customer oriented interest only mortgage calculators.

      Having user friendly interest only mortgage calculators on their web site is no coincidence. By making the loan experience as easy and pleasant as possible, they will earn more customers.

      Along with their great rates this is an especially powerful combination. Everybody wins. Just the way it should be! 

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