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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.

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1st Advantage Mortgage, LLC - 747 N. LaSalle St. 6th Floor - Chicago, IL 60654
Office Phone: (312) 867-5363 x220 Fax: (312) 654-7213 Cell Phone: (773) 213-1339