What's the monthly payment on a 300,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 300,000 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 300,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$1,500 |
| 1.00% |
$3,000 |
| 1.50% |
$4,500 |
| 2.00% |
$6,000 |
| 2.50% |
$7,500 |
| 3.00% |
$9,000 |
| 3.50% |
$10,500 |
| 4.00% |
$12,000 |
| 4.50% |
$13,500 |
| 5.00% |
$15,000 |
| Rate |
Monthly Payment |
| 5.50% |
$16,500 |
| 6.00% |
$18,000 |
| 6.50% |
$19,500 |
| 7.00% |
$21,000 |
| 7.50% |
$22,500 |
| 8.00% |
$24,000 |
| 8.50% |
$25,500 |
| 9.00% |
$27,000 |
| 9.50% |
$28,500 |
| 10.00% |
$30,000 |
More Loan Amounts
| $301,000 |
| $302,000 |
| $303,000 |
| $304,000 |
| $305,000 |
| $306,000 |
| $307,000 |
| $308,000 |
| $309,000 |
| $310,000 |
| $311,000 |
| $312,000 |
| $313,000 |
| $314,000 |
| $315,000 |
| $316,000 |
| $317,000 |
| $318,000 |
| $319,000 |
| $320,000 |
| $321,000 |
| $322,000 |
| $323,000 |
| $324,000 |
| $325,000 |
| $326,000 |
| $327,000 |
| $328,000 |
| $329,000 |
| $330,000 |