Extra Payments Calculator


How advantageous is paying extra principal with your payments?

Remaining balance: $
Current monthly payment: $Principal & Interest Only
Additional amount to pay: $
Current loan rate: %

If you pay an additional $100.00 per month, you will pay off your loan in 20 years and 7 months instead of 30 years. Because you will pay off your loan sooner, you will wind up paying less interest, which will reduce your total payments by $49,388.51.

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The information provided by these calculators are estimates based on the information entered and may vary from your actual loan, mortgage, investment or savings results. The calculated results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by Financial Strategies Online.