What's the monthly payment on a 702,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 702,000 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 702,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$3,510 |
| 1.00% |
$7,020 |
| 1.50% |
$10,530 |
| 2.00% |
$14,040 |
| 2.50% |
$17,550 |
| 3.00% |
$21,060 |
| 3.50% |
$24,570 |
| 4.00% |
$28,080 |
| 4.50% |
$31,590 |
| 5.00% |
$35,100 |
| Rate |
Monthly Payment |
| 5.50% |
$38,610 |
| 6.00% |
$42,120 |
| 6.50% |
$45,630 |
| 7.00% |
$49,140 |
| 7.50% |
$52,650 |
| 8.00% |
$56,160 |
| 8.50% |
$59,670 |
| 9.00% |
$63,180 |
| 9.50% |
$66,690 |
| 10.00% |
$70,200 |
More Loan Amounts
| $703,000 |
| $704,000 |
| $705,000 |
| $706,000 |
| $707,000 |
| $708,000 |
| $709,000 |
| $710,000 |
| $711,000 |
| $712,000 |
| $713,000 |
| $714,000 |
| $715,000 |
| $716,000 |
| $717,000 |
| $718,000 |
| $719,000 |
| $720,000 |
| $721,000 |
| $722,000 |
| $723,000 |
| $724,000 |
| $725,000 |
| $726,000 |
| $727,000 |
| $728,000 |
| $729,000 |
| $730,000 |
| $731,000 |
| $732,000 |