Interest-only with additional payments calculator

Interest-only loans can drastically cut your mortgage payments, but what if you want to pay something toward your principal? Figure it out with this calculator.

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Input Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Years)
Additional Payment : ($)
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Show Schedule Table
Financial Analysis
  Interest-Only With Additional Payment
Average Monthly Payment : $989.58 $1,004.06
Months Paid : 360 360
Total Monthly Payments : $356,250.00 $361,460.62
Total Interest Paid : $356,250.00 $343,460.62
Interest Savings : $12,789.38
Balance : $250,000.00 $232,000.00
Equity Appreciation $0.00 $18,000.00

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