First Choice Mortgage Services        
HOME ABOUT US MORTGAGE SERVICES SECOND HOMES TOOLS / RESOURCES CONTACT US

 

Additional Payment Calculator

You can save money and shave years off the length of your loan by paying more on your monthly mortgage payment than your regularly scheduled amount. How much can you save? Fill in the boxes below, including the amount of the additional payment and the number of times you will make that increased payment each year.

Loan Information
Loan Amount
Annual Interest Rate %
Loan Term (years) Years
Additional Payment %
Payment Frequency
   
Loan Payoff Results
Regular Payments
Regular Payment (P+I)  
Total Interest Paid $
Extra Payments
Increased Payment  
Time to Complete Loan Years months
Total Interest Paid $
DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believe to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.
©2004 First Choice Mortgage Services, All rights reserved.
3589 Main St. Stratford, CT 06614
Site maintained and hosted by
Impact Business Technology, LLC.