Interest only Mortgage information

Only interest Mortgage information

Which information do you need to assess an IO mortgage? You can find information about a pure interest mortgage here. Which is a pure interest mortgage? The tool estimates your monthly mortgage payment for an interest-only loan. Following the pure interest period, the payments are increased in order to repay the principal amount in full in the remaining period.

An interest-only mortgage, what is it?

You do not have to pay back the amount you owed on the credit with every single transaction. You may have several possibilities at the end of the pure interest period: TIP: Do not expect to be able to resell your home or refund your mortgage if your mortgage grows. When you cannot affordable the higher payouts on today's incomes, consider another one.

Contents on this side are intended for general information for consumers. CFPBB regularly up-dates this information. Such information may contain hyperlinks or referrals to third parties' ressources or contents. We do not support the third parties and do not warrant the correctness of this information from third parties. You may have other ressources that meet your needs.

Mortgage calculator for interest only

Original or anticipated mortgage amount for your mortgage. Maturity of the loanThe number of years over which you will make repayments on this mortgage. At the end of a pure interest rate horizon, this computer calculates that the amount of the month's pay increases so that the remainder is amortised over the remainder of the years of the credit.

At the end of the mortgage life, the mortgage is fully repaid. The number of years in which this interest rate borrowing rate only require interest rate repayments. By the end of this time, the amount of the loans will be increased so that the remainder will be amortised over the remainder of the years of the year.

Yearly interest for this mortgage. This is the first month's pay. Only the interest on the credit balances is included in this amount. Aggregate paymentsSum of all montly installments over the entire duration of the mortgage. It is assumed that there are no advance capital repayments. Aggregate interestSum of all interest rates disbursed over the life of the mortgage.

It is assumed that there are no advance payments of capital. There are no option payments, whether in the form of months, years or lump sums. Advance PaymentAmount paid on your mortgage in advance. The amount is calculated on the mortgage capital net, on the basis of the advance method of payments. Begin paymentThis is the number with which your advance payments begin.

In the case of a one-off transaction, this is the transaction number containing the individual advance inpayment. The assumption is that all advance payments of the capital have been made to your creditor in good order to be taken into account in the interest rate calculations for the following months. When you decide to make an advance with a one-off zero payout, it is considered that the advance will be made before the first payout of the credit.

Total savingsTotal interest that you will be saving by paying your mortgage in advance.

Auch interessant

Mehr zum Thema