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How To Pay Off My Mortgage Early

What if I Pay More Every Month?

See how your mortgage will be reduced, if you pay $$$ more every month.

Loan Information

Amount
$
Interest Rate
%
Length
Years
Additional Payment
$
 Let Me Print That Form in PDF!


  Standard Additional Payment
Monthly Payment $1,342.05 $1,392.05
Total Monthly Payments $483,133.89 $461,835.60
Interest Savings $21,298.29
Length 30 Yrs 0 Mts 27 Yrs 8 Mts
Time Saved 2 Yrs 4 Mts

When it comes to a home mortgage loan, you can actually pay off the loan much more quickly and save a great deal of money by simply paying a little extra each month.

If you take out a 30 year loan for $250,000.00 with a 5.000% interest rate, for example, your monthly payment (interest and principal only) will be $1,342.05. By the time the 30 year time period is complete, you will have paid $483,133.89 for your home.

If you pay just $50.00 more each month, you will pay only $461,835.60 toward your home. This is a savings of $21,298.29. In addition, you will get the loan paid off 2 Years 4 Months sooner than if you paid only your regular monthly payment.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.

We have many other Mortgage Calculators for you to use.

Make sure you register to receive my Free Homebuying Guide and Insider Mortgage Reports, browse my Resources section, fill-out a FREE No-Obligation Secure Online Loan Application, or call me in my North Palm Beach, Florida office at 561-316-6800. I am here to help you with all your mortgage needs.



CONTACT
Approval Hotline: 561-316-6800
www.ChristianPenner.com 
www.AmericasMortgageSolutions.com
TheMortgageTeam@ChristianPenner.com

BRANCH ADDRESS
The Christian Penner Mortgage Team,
712 US Highway One, Suite 300 North Palm Beach, FL 33408


Click here to view our current licensing information as listed on NMLS® Consumer Access.

FRANKLIN FIRST FINANCIAL, LTD. 538 BROADHOLLOW RD, STE. 401 MELVILLE, NY 11747
IS A LICENSED MORTGAGE BANKER-NYS DEPT OF FINANCIAL SERVICES.
LICENSE #107407 NMLS #1630, HUD APPROVED TITLE II NON-SUPERVISED LENDER #17895-0000-0.
FRANKLIN FIRST FINANCIAL IS NOT ACTING ON BEHALF OF OR AT THE DIRECTION OF HUD/FHA OR THE FEDERAL GOVERNMENT.
ALL LOANS ARE SUBJECT TO CREDIT & APPRAISAL APPROVAL.
PROGRAMS, RATES, TERMS, AND CONDITIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.
OTHER RESTRICTIONS MAY APPLY. THIS IS NOT A COMMITMENT TO LEND