Mortgage Calculators

What if I Pay More Every Month?

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Interest Rate :	(%)
Length :	(Years)
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Additional Payment :	($)
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Financial Analysis (Switch to Plain English)

	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

Plain English Help (Switch to Financial Analysis)

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. You should consult one of our loan officers for the most accurate information.

30yr Fixed Conf
Rate	APR
4.000%	4.176%

5/1 ARM Conf
Rate	APR
3.000%	3.159%
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