What's the monthly payment on a 384,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 384,000 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 384,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$1,920 |
| 1.00% |
$3,840 |
| 1.50% |
$5,760 |
| 2.00% |
$7,680 |
| 2.50% |
$9,600 |
| 3.00% |
$11,520 |
| 3.50% |
$13,440 |
| 4.00% |
$15,360 |
| 4.50% |
$17,280 |
| 5.00% |
$19,200 |
| Rate |
Monthly Payment |
| 5.50% |
$21,120 |
| 6.00% |
$23,040 |
| 6.50% |
$24,960 |
| 7.00% |
$26,880 |
| 7.50% |
$28,800 |
| 8.00% |
$30,720 |
| 8.50% |
$32,640 |
| 9.00% |
$34,560 |
| 9.50% |
$36,480 |
| 10.00% |
$38,400 |
More Loan Amounts
| $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 |
| $401,000 |
| $402,000 |
| $403,000 |
| $404,000 |
| $405,000 |
| $406,000 |
| $407,000 |
| $408,000 |
| $409,000 |
| $410,000 |
| $411,000 |
| $412,000 |
| $413,000 |
| $414,000 |