Mortgage Acceleration  
Paying just a little extra on your mortgage each month can have a dramatic effect on the time it takes you to pay off your mortgage and the amount of interest you pay over the life of the loan. Adding $100 to $200 per month to your usual payment can take years off the length of your loan and save you tens of thousands of dollars in interest. This calculator is designed to show you how much time — over the life of the loan — and money you can save by paying an additional amount in your mortgage payment each month.
     

1. What was the original face value of your loan?

$

2. What is the annual interest rate on your loan?

%

3. What was the original term of the loan (in months)?
(E.g., for a 30-year loan enter 360 months.)

4. How many monthly payments have you already made?

5. What is the additional amount you are considering adding to your monthly payment?

$
 
   
   
Sound Financial Planning
321 West Washington Street, Suite 329 • Mount Vernon, WA • 98273
Phone: (360) 336-6527 • Fax: (360) 336-6528
www.soundfinancialplanning.net • wtmorrissey@soundfinancialplanning.net

 

Primary Office
321 West Washington St., Suite 329                
Mount Vernon, WA 98273                             
Phone: (360) 336-6527
Fax: (360) 336-6528   
                                          
Secondary Office
650 Mullis St., Suite 101
PO BOX 1610
Friday Harbor, WA 98250
Phone: (360) 378-3022
Fax: (360) 378-3023
 
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