What's the monthly payment on a 400,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 400,000 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 400,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$2,000 |
| 1.00% |
$4,000 |
| 1.50% |
$6,000 |
| 2.00% |
$8,000 |
| 2.50% |
$10,000 |
| 3.00% |
$12,000 |
| 3.50% |
$14,000 |
| 4.00% |
$16,000 |
| 4.50% |
$18,000 |
| 5.00% |
$20,000 |
| Rate |
Monthly Payment |
| 5.50% |
$22,000 |
| 6.00% |
$24,000 |
| 6.50% |
$26,000 |
| 7.00% |
$28,000 |
| 7.50% |
$30,000 |
| 8.00% |
$32,000 |
| 8.50% |
$34,000 |
| 9.00% |
$36,000 |
| 9.50% |
$38,000 |
| 10.00% |
$40,000 |
More Loan Amounts
| $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 |
| $428,000 |
| $429,000 |
| $430,000 |