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Prepayment/Mortgage Reduction
Calculator

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.

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