389k Interest Only Loan Calculator

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Loan Payment Details
Monthly Payment
Loan Type
Interest Rate
What's the monthly payment on a 389,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
389,000 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 389,000 interest only loan.
Rate Monthly Payment
0.50% $1,945
1.00% $3,890
1.50% $5,835
2.00% $7,780
2.50% $9,725
3.00% $11,670
3.50% $13,615
4.00% $15,560
4.50% $17,505
5.00% $19,450
Rate Monthly Payment
5.50% $21,395
6.00% $23,340
6.50% $25,285
7.00% $27,230
7.50% $29,175
8.00% $31,120
8.50% $33,065
9.00% $35,010
9.50% $36,955
10.00% $38,900
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