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Interest-Only vs. Amortizing Payment Calculator
Compare the monthly payment difference between an interest-only HELOC draw and a fully amortizing principal-and-interest payment on the same balance and rate.
Inputs
Amortization Term (for P&I calculation)
NFTYDoor and Figure use fully amortizing structures. Aven and Deephaven are interest-only during draw. HELIX is amortizing from the start.
Results
Enter a balance and rate to see results.
Disclaimer: This is a mathematical illustration of payment structure only. It does not constitute a loan quote, pre-approval, or commitment to lend. Actual payments depend on the lender's rate, fees, and underwriting.
What this demonstrates
An interest-only payment covers only the accruing interest on the outstanding balance. The principal does not decrease unless the borrower voluntarily pays extra.
A fully amortizing payment covers both interest and a portion of principal, so the balance decreases with each payment. The required payment is higher — sometimes significantly — even when the interest rate is identical.
Some HELOC programs are interest-only during the draw period. Others begin paying principal immediately. This calculator illustrates the payment structure difference — not an actual loan quote.
Want to compare programs side by side?
Morgan will identify which programs are relevant for your property and help you compare the actual initial results.
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