What's the monthly payment on a 705,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 705,000 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 705,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$3,525 |
| 1.00% |
$7,050 |
| 1.50% |
$10,575 |
| 2.00% |
$14,100 |
| 2.50% |
$17,625 |
| 3.00% |
$21,150 |
| 3.50% |
$24,675 |
| 4.00% |
$28,200 |
| 4.50% |
$31,725 |
| 5.00% |
$35,250 |
| Rate |
Monthly Payment |
| 5.50% |
$38,775 |
| 6.00% |
$42,300 |
| 6.50% |
$45,825 |
| 7.00% |
$49,350 |
| 7.50% |
$52,875 |
| 8.00% |
$56,400 |
| 8.50% |
$59,925 |
| 9.00% |
$63,450 |
| 9.50% |
$66,975 |
| 10.00% |
$70,500 |
More Loan Amounts
| $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 |
| $733,000 |
| $734,000 |
| $735,000 |