What's the monthly payment on a 600,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 600,000 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 600,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$3,000 |
| 1.00% |
$6,000 |
| 1.50% |
$9,000 |
| 2.00% |
$12,000 |
| 2.50% |
$15,000 |
| 3.00% |
$18,000 |
| 3.50% |
$21,000 |
| 4.00% |
$24,000 |
| 4.50% |
$27,000 |
| 5.00% |
$30,000 |
| Rate |
Monthly Payment |
| 5.50% |
$33,000 |
| 6.00% |
$36,000 |
| 6.50% |
$39,000 |
| 7.00% |
$42,000 |
| 7.50% |
$45,000 |
| 8.00% |
$48,000 |
| 8.50% |
$51,000 |
| 9.00% |
$54,000 |
| 9.50% |
$57,000 |
| 10.00% |
$60,000 |
More Loan Amounts
| $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 |
| $621,000 |
| $622,000 |
| $623,000 |
| $624,000 |
| $625,000 |
| $626,000 |
| $627,000 |
| $628,000 |
| $629,000 |
| $630,000 |