Mortgage Payoff

Mortgage Payoff Calculator

How much interest can you save by increasing your mortgage payment? This financial calculator helps you find out. Click the "View Report" button to see a complete amortization payment schedule, and how much you can save on your mortgage!

This Financial Calculator requires SUN's Java Plug-in. If you see this message you will need to download SUN's Java Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing Install ActiveX Control.

    You can also get SUN's Java Plug-in here: Get the Java Plug-in!

    For more information about this Plug-in please visit: SUN's Java Plug-in
    For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Annual interest rate (APR)
The yearly cost of a mortgage, including interest, mortgage insurance, and the origination fee (point(s)), expressed as a percentage. Maximum APR is 20%.

Mortgage length (years)
Total length, or term, of your original mortgage in years. The most common lengths are 30 years and 15 years.

Original mortgage amount
The original amount financed with your mortgage. Not to be confused with the remaining balance or principal balance.

Additional monthly payment
Your proposed extra payment per month. This payment will be used to reduce your principal balance.

Scheduled payment
Monthly principal and interest payment (PI) based on your original mortgage amount, term and interest rate.

Accelerated payment
Scheduled payment plus additional monthly payment.

Total savings
Total amount you would save in interest if you made the accelerated payment until your mortgage was paid in full.

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 cannot 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.



Executive Choice Realty 124 Garfield Lane Simpsonville, SC 29681
Phone: Fax:

Staff Profiles | Contact Us | Real Estate Videos | Simpsonville Chamber of Commerce | Inspection Tips | Download Adobe Acrobat | Real Estate Glossary | Your Downpayment | Your Buying Power | Seller Paid Closing | Bi-weekly Pmt Calc | Mortgage Payoff Calc | 9 Steps to Ownership | My Blog

Copyright © 2010 Executive Choice Realty
Portions Copyright © 2010 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.