What's the monthly payment on a 590,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 590,000 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 590,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$2,950 |
| 1.00% |
$5,900 |
| 1.50% |
$8,850 |
| 2.00% |
$11,800 |
| 2.50% |
$14,750 |
| 3.00% |
$17,700 |
| 3.50% |
$20,650 |
| 4.00% |
$23,600 |
| 4.50% |
$26,550 |
| 5.00% |
$29,500 |
| Rate |
Monthly Payment |
| 5.50% |
$32,450 |
| 6.00% |
$35,400 |
| 6.50% |
$38,350 |
| 7.00% |
$41,300 |
| 7.50% |
$44,250 |
| 8.00% |
$47,200 |
| 8.50% |
$50,150 |
| 9.00% |
$53,100 |
| 9.50% |
$56,050 |
| 10.00% |
$59,000 |
More Loan Amounts
| $591,000 |
| $592,000 |
| $593,000 |
| $594,000 |
| $595,000 |
| $596,000 |
| $597,000 |
| $598,000 |
| $599,000 |
| $600,000 |
| $601,000 |
| $602,000 |
| $603,000 |
| $604,000 |
| $605,000 |
| $606,000 |
| $607,000 |
| $608,000 |
| $609,000 |
| $610,000 |
| $611,000 |
| $612,000 |
| $613,000 |
| $614,000 |
| $615,000 |
| $616,000 |
| $617,000 |
| $618,000 |
| $619,000 |
| $620,000 |