10 Year Interest Only Mortgage Rates By Juan Home Loan Mortgage Contents – On the other hand, if you borrowed $250,000 at 6 percent, using a 30-year mortgage with a 5-year interest-only payment plan, your monthly payment initially would be $1,250. This saves you $249 per month or $2,987 a year. Post navigation Best Fha Mortgage Ratesbest mortgage rates right now