Learn how Interest Only Mortgage Calculator Tips
give you a Better Mortgage Program!
A free online Interest Only Mortgage Calculator is one of
the best tools in securing the best mortgage program if you follow
these simple tips! Anyone can, and should learn them. Once you
understand these mortgage calculator strategies, you're on
your way to getting exactly what you want. Saving money!
Most people are confused on how the Interest Only Mortgage
Program works. Yet it is perhaps the simplest of all to
use and understand!
What is an Interest Only Calculator?
It's a tool in which you can calculate what your
monthly payment will be. The payment calculated is all
interest. Nothing is applied to your principal balance
(the amount you owe or loan amount), unless you pay
extra each month which will reduce your principal
To calculate what your monthly mortgage payment
will be, you only need to insert these three items when
using your interest only mortgage calculator:
- Interest rate : the annual percentage
- Loan amount : the amount you will be borrowing from the
lender after your down payment.
- Term : how many years to pay off your loan
Simply put, an interest only mortgage
calculator calculates an all interest payment. The
amount of interest you pay every month is the interest rate
you have at the time.
Your Loan Amount will never be paid off if you
Select an Interest Only Mortgage Calculator Loan Program!
Let’s look at an example. If your beginning loan
amount is $100,000 and you have an interest only loan, your
loan in say (5) years will still be $100,000. This is
assuming you still have an interest only loan and you paid
nothing extra towards your principal balance.
As long as you have an interest only loan you
essentially never pay it off!
Is an Interest Only Mortgage Calculator Program
At first glance this all seems quite scary. It is
because your loan amount will never get paid off if you
select this program. It's almost really like renting your house.
The only equity you can ever build up is over time when
house values go up. And this does happen! Values over time normally
Time is the only way to build your equity in
an interest only mortgage calculator program.
Why would anyone select this type of mortgage
It’s because the monthly payment is lower! On
larger loan amounts this is significantly lower. This is the reason
why these loans are becoming so popular and gaining very
strong borrower acceptance. Lower monthly payments means more money
in your pocket to spend on other things!
Reasons for selecting an Interest Only Mortgage
In theory you should pay off your mortgage over
time. But reality sometime dictates otherwise. Here's the reasons
why you may sometimes have to, or want to go with an interest
only mortgage calculator loan program, which will always give you
the lowest payment:
- overtime is cut back
- uncertain financial future outlook
- need a (3) bedroom instead of a (2)
- loss of job
- spouse dies and don't want to move
- unstable job market
- school tuition spikes up
- everything is going up and you need to cut your cost
- you need a more expensive house but without the higher
I see these situations everyday, and they are all
very good reasons why you may want to select an interest only
If one of the above or some other of life’s
problems occur, I would recommend taking out an Interest
only mortgage calculator program.
You instantly have lower payments and your life
stays financially the same.
You can weather the financial storm that's
occurring in your life.
When things get better and you have the money, just
start adding to your principal balance. This is a nifty option to
have on your loan!
An Interest Only Mortgage Calculator Loan
Program is a Life Saver.
And that’s why it's gaining strong momentum!
Interest Only Loans have Great loan
What is really perfect about this program is you
have the flexibility to add as much, or as little as nothing to
your monthly payment.
You can add extra to reduce your loan amount every
year if you desire on an interest only mortgage loan. Just
send in extra along with your payment. That's all you do! Your
lender will reduce your principal accordingly.
You can turn your loan into a (10), (15), (20),
(25) or (30) year loan by how much extra you add to your
monthly payment. You choose how much you want to pay!
Instead of paying any principal on your loan, you
can make monthly investments into a low risk, high return account
and really benefit!
Instead of adding extra to your principal, invest
It! Then you can pay off your house with that same investment in a
Because of these reasons, I give an Interest
Only Mortgage Calculator Program a very high
Who has the best interest only mortgage
There are differences in rates from one lender to
another. So I recommend getting three quotes. That's always
the best way. Especially on interest only mortgage calculator
Maverick Lenders Leading the Way
There are what I refer to as Maverick
Lenders leading the way in the mortgage industry. These lenders
are Ultra service oriented. They are on the cutting edge for
the best loan programs and the lowest interest
Not too many people have heard about them. They
deal primarily online. They are great to work with in every way.
They work hard at acquiring your business and they prove it
to you by offering the best rates and loan programs the
market has ever seen!
You will win with these lenders on all levels and
get what you're looking for. I highly recommend that you get a
quote when working on your interest only mortgage calculator
while visiting their web site, which you can access below.
You can kill two birds with one stone. It's easy,
just fill out their online form. It will take two minutes. I
believe you'll be pleasantly surprised!
These Maverick lenders have the easiest
mortgage calculators online to use for free. Below are some links
to access these maverick lenders and their customer oriented
interest only mortgage calculators.
Having user friendly interest only mortgage
calculators on their web site is no coincidence. By making the
loan experience as easy and pleasant as possible, they will earn
Along with their great rates this is an especially
powerful combination. Everybody wins. Just the way it should