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Interest Only Payment Calculator
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.  Smart Choice Mortgage Company - 600 N Broadway, Ste 216 - White Plains, NY 10603 Office Phone: (914) 644-8100 Fax: (914) 644-8151 :: Apply Now :: Pre-Qualify :: Loan Programs :: Purchasing :: Refinance :: Debt Consolidation :: Imperfect Credit? :: Need Cash? :: Request Loan Status :: Calculators :: Loan Process :: Library :: FAQ :: Glossary :: Forms :: Contact Us :: About Us :: Tell-A-Friend :: Sweepstakes :: Credit Report :: Marketplace :: Home :: Licensed Mortgage Broker, NYS Banking Department, Registered Mortgage Broker CT Banking Department, Licensed Lender FL Department of Financial Regulation 
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