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What's the monthly payment on a 397,000 interest only loan?

Take the annual interest rate, divide by 12, and then multiply by the loan amount.

397,000 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.

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View a table of monthly payments for a 397,000 interest only loan.

Rate |
Monthly Payment |

0.50% |
$1,985 |

1.00% |
$3,970 |

1.50% |
$5,955 |

2.00% |
$7,940 |

2.50% |
$9,925 |

3.00% |
$11,910 |

3.50% |
$13,895 |

4.00% |
$15,880 |

4.50% |
$17,865 |

5.00% |
$19,850 |

Rate |
Monthly Payment |

5.50% |
$21,835 |

6.00% |
$23,820 |

6.50% |
$25,805 |

7.00% |
$27,790 |

7.50% |
$29,775 |

8.00% |
$31,760 |

8.50% |
$33,745 |

9.00% |
$35,730 |

9.50% |
$37,715 |

10.00% |
$39,700 |

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More Loan Amounts

$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 |

$425,000 |

$426,000 |

$427,000 |