What's the monthly payment on a 1,500,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 1,500,000 x Interest Rate (as a decimal) ÷ 12 |
An interest only loan just pays the interest so no principal is paid off. The loan typically has a specified term. When that term ends the loan must be repaid or refinanced.
View a table of monthly payments for a 1,500,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$7,500 |
| 1.00% |
$15,000 |
| 1.50% |
$22,500 |
| 2.00% |
$30,000 |
| 2.50% |
$37,500 |
| 3.00% |
$45,000 |
| 3.50% |
$52,500 |
| 4.00% |
$60,000 |
| 4.50% |
$67,500 |
| 5.00% |
$75,000 |
| Rate |
Monthly Payment |
| 5.50% |
$82,500 |
| 6.00% |
$90,000 |
| 6.50% |
$97,500 |
| 7.00% |
$105,000 |
| 7.50% |
$112,500 |
| 8.00% |
$120,000 |
| 8.50% |
$127,500 |
| 9.00% |
$135,000 |
| 9.50% |
$142,500 |
| 10.00% |
$150,000 |