What's the monthly payment on a 370,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 370,000 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 370,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$1,850 |
| 1.00% |
$3,700 |
| 1.50% |
$5,550 |
| 2.00% |
$7,400 |
| 2.50% |
$9,250 |
| 3.00% |
$11,100 |
| 3.50% |
$12,950 |
| 4.00% |
$14,800 |
| 4.50% |
$16,650 |
| 5.00% |
$18,500 |
| Rate |
Monthly Payment |
| 5.50% |
$20,350 |
| 6.00% |
$22,200 |
| 6.50% |
$24,050 |
| 7.00% |
$25,900 |
| 7.50% |
$27,750 |
| 8.00% |
$29,600 |
| 8.50% |
$31,450 |
| 9.00% |
$33,300 |
| 9.50% |
$35,150 |
| 10.00% |
$37,000 |
More Loan Amounts
| $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 |
| $390,000 |
| $391,000 |
| $392,000 |
| $393,000 |
| $394,000 |
| $395,000 |
| $396,000 |
| $397,000 |
| $398,000 |
| $399,000 |
| $400,000 |