What's the monthly payment on a 394,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 394,000 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 394,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$1,970 |
| 1.00% |
$3,940 |
| 1.50% |
$5,910 |
| 2.00% |
$7,880 |
| 2.50% |
$9,850 |
| 3.00% |
$11,820 |
| 3.50% |
$13,790 |
| 4.00% |
$15,760 |
| 4.50% |
$17,730 |
| 5.00% |
$19,700 |
| Rate |
Monthly Payment |
| 5.50% |
$21,670 |
| 6.00% |
$23,640 |
| 6.50% |
$25,610 |
| 7.00% |
$27,580 |
| 7.50% |
$29,550 |
| 8.00% |
$31,520 |
| 8.50% |
$33,490 |
| 9.00% |
$35,460 |
| 9.50% |
$37,430 |
| 10.00% |
$39,400 |
More Loan Amounts
| $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 |
| $415,000 |
| $416,000 |
| $417,000 |
| $418,000 |
| $419,000 |
| $420,000 |
| $421,000 |
| $422,000 |
| $423,000 |
| $424,000 |