Interest Only Payment Option Calculator

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.

Trenton Mortgage, Inc. - 10850 Richmond Avenue, Suite220 - Houston, TX 77042
Office Phone: 713.781.0700 Fax: 713.917.7700

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We lend in the following states: TX

Trenton Mortgage, Inc, Brazos Lending, Ltd, TM Mortgage, Ltd, RT Mortgage, Ltd, and New Century Lending, Ltd, licence #218 & 10334 are LICENSED UNDER THE LAWS OF THE STATE OF TEXAS AND BY STATE LAW IS SUBJECT TO REGULATORY OVERSIGHT BY THE TEXAS SAVINGS AND LOAN DEPARTMENT. ANY CONSUMER WISHING TO FILE A COMPLAINT AGAINST Trenton Mortgage, Inc, TM Mortgage Ltd., RT Mortgage, Ltd., New Century Lending, Ltd, SHOULD COMPLETE, SIGN, AND SEND A COMPAINT FORM TO THE TEXAS SAVINGS AND LOAN DEPARTMENT, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705.COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT'S WEB SITE LOCATED AT WWW.TSLD.STATE.TX.US OR OBTAINED FROM THE DEPARTMENT UPON REQUEST BY MAIL AT THE ADDRESS ABOVE,BY TELEPHONE AT ITS TOLL-FREE CONSUMER HOTLINE AT 1-877-276-5550, BY FAX AT (512) 475-1360, OR BY E-MAIL AT TSLD@TSLD.STATE.TX.US. THE DEPARTMENT MAINTAINS THE MORTGAGE BROKER RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN TYPES OF JUDGEMENTS AGAINST A MORTGAGE BROKER OR LOAN OFFICER. NOT ALL CLAIMS ARE COMPENSABLE AND A COURT MUST ORDER THE PAYMENT OF A CLAIM FROM THE RECOVERY FUND BEFORE THE DEPARTMENT MAY PAY A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT SUBCHAPTER F OF THE MORTGAGE BROKER LICENSE ACT ON THE DEPARTMENT'S WEB SITE REFERNCED ABOVE.