Thursday, September 09, 2010
Interest Only Calculator

Calculate interest only mortgage payments by inserting the appropriate loan values in the calculator fields below. The monthly savings on interest only loans may be significant compared to traditional fixed rate mortgages so you owe it to yourself to learn more about the benefits & risks of interest only home loan programs.

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Loan Amount 
Interest Rate  %
Number of Years 
Total Number of Payments 
* Interest Only Payment $

What is an Interest only loan?

An Interest-Only loan is a home loan program where you have an option to make "interest-only" payments for a defined period of the loan. The term "interest-only" does not mean not mean a consumer will never have to repay the principal amount of the loan. Usually there is a term in which you will pay only interest. After that term, you would then have to pay both interest and principle. Interest only loans generally use a variable interest rate.

 

 


222896


Betty Lou Charnock
Coldwell Banker Harbour Realty
Ph: 1-800-854-9270  -  Fax: 757-331-3476
235AMason Avenue
Cape Charles, VA 23310
www.esvawaterfrontproperties.com
Eastern Shore of Virginia Chamber of Commerce

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Selling your Home, or Putting your home for sale, buying real estate or land property, beach property, shoreline property, ocean front, water front or beach homes off the Virginia Eastern Shore and its surrounding areas, such as Cape Charles, Onancock, Willis Wharf, Wachapreague, Chincoteague, Eastville, Accomac, Chesapeake Bay and Atlantic Ocean, VA.

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