Prepayment/Mortgage Reduction Calculator

See how much you can reduce the length of your mortgage loan by
making additional prepayments. If you know your current principal
balance and principal/interest payment, enter them in fields A1 and A2.
Otherwise enter the information requested in fields B1, B2 and B3.

    Change the fields below as desired...

    Step 1: Select Option A or B,
    then complete the table selected

    A1. Current Principal Balance (if known)
    A2. Current Prin+Int Monthly Payment

    B1. Original Principal Balance (otherwise)
    B2. Month of First Payment (otherwise) -
    B3. Length of Mortgage (Years)

    Step 2: Fill out this table

    Current Annual Interest Rate
    Additional Monthly Pre-Payment*
    Increase Monthly Payment each year by (%)

    * = Enter B here to do a biweekly conversion from here.

    Step 3: Run Your Calculations


This calculator is for illustrative purposes only. We do not guarantee
that calculations are accurate. Always consult your accountant or
a professional advisor before making personal financial decisions.