Recent Calculations
How much interest can you save by increasing your mortgage payment? This financial calculator helps you find out. View the report to see a complete amortization payment schedule, and how much you can save on your mortgage!
The original amount financed with your mortgage, do not confuse this with the remaining balance or principal balance.
Annual interest rate for this mortgage.
El número de años durante los cuales se pagará este préstamo. The most common mortgage amortization periods are 25 years and 30 years.
The payment type determines the frequency of payments. Monthly will have 12 payments per year, weekly 52, bi-weekly 26 and bi monthly 24.
Accelerated weekly and accelerated bi-weekly payment options are calculated by taking a monthly payment schedule and assuming only four weeks in a month. The tool calculates an accelerated weekly payment, for example, by taking your normal monthly payment and dividing it by four. Since you make 52 weekly payments, by the end of a year you have paid the equivalent of one extra monthly payment. This additional amount accelerates your loan payoff by going directly against your loan's principal. The effect can save you thousands in interest and take years off of your mortgage.
The accelerated bi-weekly payment is calculated by dividing your monthly payment by two. You then make 26 bi-weekly payments. Just like the accelerated weekly payments you are in effect paying an additional monthly payment per year.
Total number of years remaining on your original mortgage.
Monto que se pagará por adelantado en la hipoteca. This amount will be applied to the mortgage principal balance, based on the selected additional payment frequency.
La frecuencia del prepago. The options are weekly, bi-weekly, semi-monthly, monthly, yearly and one-time payment.
Elija cómo se mostrará el informe en su calendario de pagos. Anualmente: se resumirán los pagos y saldos de cada año. Mensualmente: mostrará todos los pagos a lo largo del plazo del préstamo.
Your principal and interest payment (P&I) per period.
Total de los pagos mensuales acumulados durante la vigencia de la hipoteca. Este monto total de pago asume que no se realizan prepagos de capital.
Total de los intereses pagados a lo largo de la vigencia de la hipoteca. Este monto total de intereses asume que no se realizan prepagos de capital.
Monto total de intereses que se ahorrará al efectuar prepagos en su hipoteca.