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IO vs P&I on $1,300,000

At 6.2% over 30 years.

Interest Only
$6,717
/month
Principal & Interest
$7,962
/month
IO saves $1,245/month — but you pay no principal
Loan Amount$1,300,000
Interest Rate6.2%
Monthly Saving (IO)$1,245
Other loan amounts
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Full IO vs P&I Calculator →