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Interest Only Mortgage Calculator
INTEREST ONLY MORTGAGE DEFINITION:
The Interest Only Mortgage Calculator will calculate the mortgage payment for an interest only loan if you enter in the mortgage amount and the mortgage interest rate. An interest only mortgage is a type of mortgage where the mortgage payment is comprised 100% of interest and no principal. Try out the free online interest only mortgage calculator to calculate an interest only mortgage payment now!
INTEREST ONLY MORTGAGE FORMULA:
Interest Only Mortgage Payment = Mortgage Amount * Annual Interest Rate / 12