What's the monthly payment on a 359,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 359,000 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 359,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$1,795 |
| 1.00% |
$3,590 |
| 1.50% |
$5,385 |
| 2.00% |
$7,180 |
| 2.50% |
$8,975 |
| 3.00% |
$10,770 |
| 3.50% |
$12,565 |
| 4.00% |
$14,360 |
| 4.50% |
$16,155 |
| 5.00% |
$17,950 |
| Rate |
Monthly Payment |
| 5.50% |
$19,745 |
| 6.00% |
$21,540 |
| 6.50% |
$23,335 |
| 7.00% |
$25,130 |
| 7.50% |
$26,925 |
| 8.00% |
$28,720 |
| 8.50% |
$30,515 |
| 9.00% |
$32,310 |
| 9.50% |
$34,105 |
| 10.00% |
$35,900 |
More Loan Amounts
| $360,000 |
| $361,000 |
| $362,000 |
| $363,000 |
| $364,000 |
| $365,000 |
| $366,000 |
| $367,000 |
| $368,000 |
| $369,000 |
| $370,000 |
| $371,000 |
| $372,000 |
| $373,000 |
| $374,000 |
| $375,000 |
| $376,000 |
| $377,000 |
| $378,000 |
| $379,000 |
| $380,000 |
| $381,000 |
| $382,000 |
| $383,000 |
| $384,000 |
| $385,000 |
| $386,000 |
| $387,000 |
| $388,000 |
| $389,000 |