Interest Only Mortgage Calculator

   The recent increase in real state values has made the Interest Only Mortgage very popular.

   An Interest only mortgage calculator can only calculate the payments during the interest only phase of the mortgage which is normally of a fixed period.

   Other uses of an interest only mortgage calculator include but are not limited to calculating payments of  construction loans during construction or calculating payments on a home equity line of credit which are also based on interest only payments.

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   The most important thing to remember when using an interest only mortgage payment calculator is the fact that those payments are not amortizing your mortgage loan, interest only payments are just that, no principal payments...

   A variety of products are offered including but not limited to 30 year fixed, 15  year fixed, 3/1 ARM, 5/1 ARM, 7/1 ARM and last but not least 10/1 ARM. What you need to remember though is that they all have a fixed period of interest only payments, and it goes without saying that the calculations for that period are done using the same interest only calculator no matter which program is used.