What's the monthly payment on a 550,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 550,000 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 550,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$2,750 |
| 1.00% |
$5,500 |
| 1.50% |
$8,250 |
| 2.00% |
$11,000 |
| 2.50% |
$13,750 |
| 3.00% |
$16,500 |
| 3.50% |
$19,250 |
| 4.00% |
$22,000 |
| 4.50% |
$24,750 |
| 5.00% |
$27,500 |
| Rate |
Monthly Payment |
| 5.50% |
$30,250 |
| 6.00% |
$33,000 |
| 6.50% |
$35,750 |
| 7.00% |
$38,500 |
| 7.50% |
$41,250 |
| 8.00% |
$44,000 |
| 8.50% |
$46,750 |
| 9.00% |
$49,500 |
| 9.50% |
$52,250 |
| 10.00% |
$55,000 |
More Loan Amounts
| $551,000 |
| $552,000 |
| $553,000 |
| $554,000 |
| $555,000 |
| $556,000 |
| $557,000 |
| $558,000 |
| $559,000 |
| $560,000 |
| $561,000 |
| $562,000 |
| $563,000 |
| $564,000 |
| $565,000 |
| $566,000 |
| $567,000 |
| $568,000 |
| $569,000 |
| $570,000 |
| $571,000 |
| $572,000 |
| $573,000 |
| $574,000 |
| $575,000 |
| $576,000 |
| $577,000 |
| $578,000 |
| $579,000 |
| $580,000 |