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See How Much Interest You'll Pay on Your Debt

Interest-only Loan Payment Calculator

This calculator will compute an interest-only loan's accumulated interest at various durations throughout the year. These amounts reflect the amount which would need to be paid in order to maintain a constant principal balance.

Check Out Our Related IO Loan Calcualtors

If your interest-only loan is a mortgage, we also offer an interest-only mortgage calculator, an IO calculator with extra payments and an IO ARM calculator.

We also have calculators which you can use to amoritize loans over any desired schedule.

For your convenience we list current Union mortgage rates to help you perform your calculations and find a local lender.

Loan Info Amount
Principal:
Interest Rate (APR %):
Periodicity Interest Amount
Daily interest:
Weekly interest:
Biweekly interest:
Semimonthly interest:
Monthly interest:
Bimonthly interest:
Quarterly interest:
Semiannual interest:
Annual interest:

Current Local Mortgage Rates

The following table shows current Union 30-year mortgage rates. You can use the menus to select other loan durations, alter the loan amount, change your down payment, or change your location. More features are available in the advanced drop down

See the Real Cost of Debt

Baited Money Trap.

The above calculator also has a second tab which shows the current interest rates on savings accounts. This further shows how expensive debt is because most forms of consumer debt charge a far higher rate of interest than banks pay savers AND savers get taxed on interest income they earn at their ordinary tax rates. The table below shows the full cost of $10,000 of debt at various rates of interest. While different consumer debt types typically have different amounts, we kept the amount column constant to show the absolute difference in cost per Dollar earned or borrowed. We also presumed interest-only payments on the debt & a 25% tax rate on income.

Account Type Amount Rate Annual Interest After Tax Income Required Income to Cover Interest Expense
Big Bank Savings $10,000 0.01% $1 $0.75 -
High-yield Savings $10,000 1.00% $100 $75.00 -
Certificate of Deposit $10,000 1.40% $140 $105.00 -
New Car, Good Credit $10,000 3.65% $365 - $486.67
Used Car, Bad Credit $10,000 8.90% $890 - $1,186.67
Credit Card $10,000 13.76% $1,376 - $1,834.67
Personal Loan, Good Credit $10,000 14.5% $1,450 - $1,933.33
Personal Loan, Bad Credit $10,000 30.0% $3,000 - $4,000
Payday Loan $10,000 400% $40,000 - $53,333.33

Union Homeowners May Want to Refinance at Today's Low Rates & Save

Contact New American Funding today to see how much you can save.

  • Lower Interest Expenses: Pay off higher interest rate credit cards & pay for college tuition.
  • Leverage Your Equity: Cash out & debt consolidation options available.
  • Trusted Lender: Over 170,000 positive reviews with an A+ rating with BBB.
  • Flexible Terms: Borrow from 8 to 30 years.

Union Homeowners May Want to Refinance at Today's Low Rates & Save

Contact New American Funding today to see how much you can save.

  • Lower Interest Expenses: Pay off higher interest rate credit cards & pay for college tuition.
  • Leverage Your Equity: Cash out & debt consolidation options available.
  • Trusted Lender: Over 170,000 positive reviews with an A+ rating with BBB.
  • Flexible Terms: Borrow from 8 to 30 years.