Mortgage Acceleration  
Paying just a little extra on your mortgage each month can have a dramatic effect on the time it takes you to pay off your mortgage and the amount of interest you pay over the life of the loan. Adding $100 to $200 per month to your usual payment can take years off the length of your loan and save you tens of thousands of dollars in interest. This calculator is designed to show you how much time — over the life of the loan — and money you can save by paying an additional amount in your mortgage payment each month.
     

1. What was the original face value of your loan?

$

2. What is the annual interest rate on your loan?

%

3. What was the original term of the loan (in months)?
(E.g., for a 30-year loan enter 360 months.)

4. How many monthly payments have you already made?

5. What is the additional amount you are considering adding to your monthly payment?

$
 
   
   
Total Financial Concepts, Inc
1090 King Georges' Post Road, Suite 1107 • Edison, NJ • 08837

*Registered Representative of, and Securities and Investment Advisory Services Offered through Hornor, Townsend & Kent, Inc. (HTK) Registered Investment Advisor, Member FINRA/SIPC.  105 Fieldcrest Avenue, 5C, Edison, NJ 08837, (732) 225-0777.  HTK does not provide tax advice.  Please consult a qualified tax advisor regarding your individual circumstances.  Total Financial Concepts, Inc. is independent of HTK.

 

 

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