Repayment:
Interest only: each payment covers just the interest. The full loan balance is due as one lump sum (a balloon payment) at the end of the term, unless extra payments pay it down first.
Solve for:
$
$
%
Under 20% down, lenders usually charge PMI. You can add it under "Taxes, insurance and other costs".
$
%
years
$
Taxes, insurance and other costs
Extra payments
Adjustable rate (ARM) changes
Up to five rate changes. Each one takes effect after the given number of years.
Monthly payment
$0
- Total of payments
- –
- Total interest
- –
- Payoff date
- –
- Number of payments
- –
- Interest saved by extras
- –
- Monthly cost incl. tax & fees
- –
Principal Interest
Balance over time
Balance Cumulative interest
Amortization schedule
| # | Date | Payment | Principal | Interest | Extra | Balance |
|---|