Prepayment Calculator
Prepaying on your home mortgage can greatly reduce the loan term. To find out how quickly a few extra dollars a month can add up, enter your current loan data in the table below and find out how much you can save. The desired monthly payment is the total of minimum monthly payment for the loan plus the amount of prepayment. The assumption is that you pay the same prepayment amount every month for the loan term.
Loan Amount ($):
Interest Rate (%)
:
Length of Mortgage (Years):
Desired Length of Loan (years)
Desired Monthly Payment ($)
© 2002 All Rights Reserved
