Interest Only Payment Calculator

Loan Amount:
Interest Rate1:		%

¹ The interest-only payment and the monthly savings will change as the interest rate changes. Rates are for calculation purposes only, please call your loan officer for rate quotes.

² The interest-only payment option is only available during the initial interest only payment period. This is only in the first ten to fifteen years. Some programs have shorter initial interest only periods. For example: on a 5/1 ARM, the interest-only period may be only the first five years.

³ Monthly savings is based on the thirty-year, amortized principal and interest payment.

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NJ MORTGAGE, LLC                                     2 Tranquil Court                               Freehold, NJ 07728 Phone:                          732-728-2265 Fax:                              732-359-1576 Email:               info@njmortbank.com Correspondent Mortgage Banker Licensed by the New Jersey Department of Banking & Insurance NMLS Registry ID 251646 A Correspondent Mortgage Banker does not hold or service mortgage loans for more than 90 days in the regular course of business.   Website Maintained by: Rick Hollander NMLS Registry ID 276277

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