Interest Only Payment Option Calculator

Interest Only Payment Calculator

Loan Amount:
Interest Rate¹:		%

Payment Options
30-Year Principal and Interest Payment:	$599.55
Interest Only Payment²:	$500.00
Monthly Savings³:	$99.55

Assumptions:

¹ The interest-only payment and the monthly savings will change as the interest rate changes. Rates are for calculation purposes only, please call your loan officer for rate quotes.

² The interest-only payment option is only available during the initial interest only payment period. This is only in the first ten to fifteen years. Some programs have shorter initial interest only periods. For example: on a 5/1 ARM, the interest-only period may be only the first five years.

³ Monthly savings is based on the thirty-year, amortized principal and interest payment.

Tidewater Mortgage Services, Inc. - 200 Golden Oak Ct., Suite 100 - Virginia Beach, VA 23452
Office Phone: (757) 498-7400 Fax: (757) 498-7435

We lend in the following states: Virginia, Maryland, DC, North Carolina, Florida & Delaware

The stated rate may change or may not be available at the time of loan commitment or lock-in.

Tidewater Mortgage Services, Inc. is licensed by the Virginia State Corporation Commission, MLB 533.