Interest Only Mortgage Calculator

Interest Only Calculator     This calculator is for those borrowers who want to calculate the payment on an interest only option on a mortgage Loan Amount $ Interest Rate(%)         Loan Terms(Years) --Select-- 15 30               Interest Only Calculator           Don't settle for calculators. Login to Anawise Report to create a free, fast, end to end analysis of your home purchase in one report. Click here         Interest Only Calculator     1. Interest only is a feature that is available with most mortgages. 2. You pay only the interest component on an IO mortgage. You don't pay any     principal. So your monthly payments are lower but you do not pay down     the loan. 3. In the future, say after 3 or 5 years, the interest only loans become fully     amortizing i.e you pay both principal and interest and the monthly payment     is higher because the principal has tobe paid over a shorter length of time     say 27 or 25 years (assuming a 30 year mortgage) . 4. According to a recent survey, interest only mortgages are rapidly gaining     in popularity, as people are counting on appreciation in their home prices     to build equity. 5. People take interest only mortgages if a) They believe home prices will appreciate b) They want to afford a larger or a more expensive home c) They don't plan to stay in the house for a long time. d) Believe their cash flows will increase so that they can pay the higher      payments when these loans become fully amortizing.