704k Interest Only Loan Calculator

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Loan Payment Details
Monthly Payment
Loan Type
Interest Rate
What's the monthly payment on a 704,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
704,000 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 704,000 interest only loan.
Rate Monthly Payment
0.50% $3,520
1.00% $7,040
1.50% $10,560
2.00% $14,080
2.50% $17,600
3.00% $21,120
3.50% $24,640
4.00% $28,160
4.50% $31,680
5.00% $35,200
Rate Monthly Payment
5.50% $38,720
6.00% $42,240
6.50% $45,760
7.00% $49,280
7.50% $52,800
8.00% $56,320
8.50% $59,840
9.00% $63,360
9.50% $66,880
10.00% $70,400
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