Estimated Loan Amount. Based On Interest Only Payments Based on your input Calculation

This calculator uses the member's net income and other monthly debt payments, such as auto and credit cards.

This calculator assumes that the consumer, with other monthly debt payments, will not spend more than 62% of net monthly income on monthly housing expense MHE

The "Interest Only" calculator will give the member an estimate of the affordable loan amount and corresponding monthly Interest Only payment based on member input.

No principal included in payment.

This calculator requires the member to input the method of employer payment of income, net income, other debt, interest rate and term of loan. Term of loan is not essential when calculating an interest only monthly payment.

The member is advised to use current interest rates, so as to obtain an estimated loan amount and interest only monthly payment reflective of net income capability.

The output is a loan amount and interest only monthly payment. Property Taxes and Insurance (T&I) or Taxes and Association Fees are assumed to be nine percent (9%) of net monthly income.

You need to be a RELDT® member to use the Interest Only Calculator.