Menu Show Menu Show Menu
HomeFeatured ListingsMLS Home SearchMeet the TeamWhy use a REALTOR®?Facing Foreclosure?Dream Home FinderYour Home's ValueBuyer ReportsSeller ReportsFree Relocation GuideMortgage CenterToday's RatesTell A Friend
Magnolia Real Estate & Property Management, LLC
3510 Manor Drive
Vicksburg, MS 39180
Phone: (601) 638-8884
Fax: (601) 638-8874
The Accredited Buyer Representative (ABR®) designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate BUYER'S AGENT Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS® who meet the specified educational and practical experience criteria.An arrangement by which real estate brokers place their listings together so that all members of the multiple-listing service have an opportunity to sell properties listed by other members of the service.A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION of REALTORS® (USA) or the Canadian Real Estate Association (Canada). The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.REALTORS® with the SFR certification can be a trusted resource for short sales and foreclosures.Broker Price Opinions (BPOs). REALTORS® with knowledge and skills to reduce risk, increase opportunities, and create professional BPOs.NAR's Military Relocation Professional certification focuses on educating real estate professionals about working with current and former military service members to find housing solutions that best suit their needs and take full advantage of military benefits and support.Hold mouse over logo for description.
Mortgage Calculator     
Calculators Provided by: IMAGEPROWEBSITE.COM

Interest-Only with Additional Payments Calculator

Input Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Years)
Additional Payment : ($)

Financial Analysis (Switch to Plain English)
  Interest-Only With Additional Payment
Average Monthly Payment : $729.17 $752.99
Months Paid : 360 360
Total Monthly Payments : $262,500.00 $271,076.25
Total Interests Paid : $262,500.00 $253,076.25
Interest Savings : $9,423.75
Balance : $250,000.00 $232,000.00
Equity Appreciation $0.00 $18,000.00
Plain English Help (Switch to Financial Analysis)

If you take out an interest only loan and then make additional payments, you might be able to save yourself some money over the long haul. If you take out a 30 year loan for $250,000.00 with a 3.500% interest rate, for example, the monthly payment would be about $729.17. This means you will pay $262,500.00 in interest at the end of the loan term.

If you pay an extra $50.00 per month, however, your average monthly payment will not be much more, only $752.99. At the end of the loan period, you will have paid $253,076.25 in interest. Since your extra payment will get your interest paid off sooner, you will save $9,423.75 in interest by paying an extra $50.00 each month. This will reduce the balance of your $250,000.00 loan to $232,000.00, which will result in $18,000.00 in loan appreciation.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.