This calculator will show you the additional monthly payment you will need to make on your current mortgage in order to pay if off within a specified number of years. It will also show you how much interest you will save if you make the calculated additional payment each month, from now until your mortgage is paid off. Special thanks to online subscriber Lyle Crafton for presenting the idea for this calculator.
NOTE: Be sure to enter "0" (zero) in any entry boxes that don't apply to you. Also be sure that only numbers and decimal points are entered into the fields (dollar signs and other non-numeric characters will cause a JavaScript error).
Information and interactive calculators are made available to you as self-help
tools for your independent use and are not intended to provide investment
advice. We can not and do not guarantee their applicability or accuracy in
regards to your individual circumstances. All examples are hypothetical and are
for illustrative purposes. We encourage you to seek personalized advice from
qualified professionals regarding all personal finance issues.
