Prepayment Savings Calculator
Depending on the structure of your mortgage, making additional payments can reduce the amount of interest you pay during the life of your mortgage and lower your monthly balance. While you may not always be able to afford prepayments, by making a few adjustments in your monthly budget, adding extra payments to your mortgage can save you thousands of dollars in the long run. Plus, you can build up equity in your home faster, which can also benefit you in the long run.
Use our Prepayment Savings Calculator to calculate what your prepayment amounts could be, your present loan balance and the remaining years on your mortgage.
When using our calculators, remember the dollar amounts displayed aren’t guaranteed, and what you actually pay may be different. The estimates are for illustrative and educational purposes only.