602k Interest Only Loan Calculator

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Loan Payment Details
Monthly Payment
Loan Type
Interest Rate
What's the monthly payment on a 602,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
602,000 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 602,000 interest only loan.
Rate Monthly Payment
0.50% $3,010
1.00% $6,020
1.50% $9,030
2.00% $12,040
2.50% $15,050
3.00% $18,060
3.50% $21,070
4.00% $24,080
4.50% $27,090
5.00% $30,100
Rate Monthly Payment
5.50% $33,110
6.00% $36,120
6.50% $39,130
7.00% $42,140
7.50% $45,150
8.00% $48,160
8.50% $51,170
9.00% $54,180
9.50% $57,190
10.00% $60,200
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