Calculator - Mortgage Payoff

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!

This Financial Calculator requires a Browser with Java Support

Definitions

Annual interest rate: Annual interest rate. Maximum interest rate is 20%.
Mortgage length (years): Total length, or term, of your original mortgage in years. Most common lengths are 30 years and 15 years.
Original mortgage amount: The original amount financed with your mortgage, not to be confused with the remaining balance or principal balance.
Additional monthly payment: Your proposed extra payment per month. This payment will be used to reduce your principal balance.
Scheduled payment: Monthly principal and interest payment based on your original mortgage amount, term and interest rate.
Accelerated payment: Scheduled payment plus additional monthly payment.
Total savings: Total amount you would save in interest if you made the accelerated payment until your mortgage was paid in full.

 

 

©2006 LandAmerica American Title | Site Map | Contact Us | Privacy Policy/Terms and Conditions |
About Us | Client Services | Locations | Know Your Closing | Useful Tools | Careers | Useful Links | Superior Service Guarantee
LandAmerica American Title • 6029 Beltline Road, Suite 200 • Dallas, TX 75254 • Phone 972-789-8400
website by jeter creative