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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 Calculator

Input Information
Loan Information
Amount : ($)
Interest-Only Rate : (%)
Conventional Loan Rate : (%)
Length : (Yrs)

Financial Analysis (Switch to Plain English)
Interest-Only Loan Payment : $989.58
Total Interest-Only : $356,250.00
Monthly Principal & Interests : $1,122.61
Total Principal & Interest : $404,140.22
Plain English Help (Switch to Financial Analysis)

When applying for a mortgage loan for your home, you can choose between a standard loan and an interest only loan. With an interest only loan, you will pay only on the interest when you make your monthly payments and you will eventually be called upon to pay the principal. It is a wise financial decision to compare the two types of loans before deciding which one is best for you.

If you wanted to borrow $250,000.00 for the purchase of your home, you might be offered a standard loan with a 3.500% interest rate or an interest only loan with a 4.750% interest rate, with both being 30 year loans. With an interest only loan, your monthly payment would be $989.58, while a standard loan would be $1,122.61. Under this plan, the total interest only cost would be $356,250.00, while the total standard loan cost would be $404,140.22.

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.