388k Interest Only Loan Calculator

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Loan Payment Details
Monthly Payment
Loan Type
Interest Rate
What's the monthly payment on a 388,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
388,000 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 388,000 interest only loan.
Rate Monthly Payment
0.50% $1,940
1.00% $3,880
1.50% $5,820
2.00% $7,760
2.50% $9,700
3.00% $11,640
3.50% $13,580
4.00% $15,520
4.50% $17,460
5.00% $19,400
Rate Monthly Payment
5.50% $21,340
6.00% $23,280
6.50% $25,220
7.00% $27,160
7.50% $29,100
8.00% $31,040
8.50% $32,980
9.00% $34,920
9.50% $36,860
10.00% $38,800
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