623k Interest Only Loan Calculator

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Loan Payment Details
Monthly Payment
Loan Type
Interest Rate
What's the monthly payment on a 623,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
623,000 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 623,000 interest only loan.
Rate Monthly Payment
0.50% $3,115
1.00% $6,230
1.50% $9,345
2.00% $12,460
2.50% $15,575
3.00% $18,690
3.50% $21,805
4.00% $24,920
4.50% $28,035
5.00% $31,150
Rate Monthly Payment
5.50% $34,265
6.00% $37,380
6.50% $40,495
7.00% $43,610
7.50% $46,725
8.00% $49,840
8.50% $52,955
9.00% $56,070
9.50% $59,185
10.00% $62,300
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