These educational calculators set out to illustrate various mortgage-related scenarios or comparisons and should not be construed as an offer to lend.

Please refer to our formal disclaimer for more information.

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Benjamin Hulshof

Windmill Mortgage Services LLC

President/Mortgage Consultant

NMLS 216697 | LO.02757.000

(614) 689-8440

Pre-Payment Analysis and Calculator
How quickly can I pay off my loan if I make extra payments?
Enter the Terms of Your Current Loan
  Loan Amount Rate Term Payment
Existing or New First Mortgage
Enter the Amount of the Monthly Pre-Payment Towards Principal
I will add each month an extra  
Your New Loan Term will be Shortened to Years
The total of your payments over this shortened loan period will be
The total of all payments over the regular full term of your loan would be
The total payment savings with the added prepayment will equal
While it's a great idea to want to invest your money to eliminate debt and create greater equity, paying off your loan early is only one of many available options. As well, since for most people there is a tax benefit that comes with servicing a mortgage loan, the real net rate of return from principal pre-payment is usually on the lower end of the spectrum for historical performance. Paying off your loan early is safe, it is predictable and thus, has its merits, yet it also puts your money into one of the hardest, most expensive or disruptive places to get it back should the need suddenly arise. In other words, you have to sell or refinance your home to retrieve your equity, and that can be one of the hardest things to do when you need the money most. Hence, it's always worth looking at all options and consulting with an expert before making investment decisions. I'm always happy to speak with you and whenever needed, will be happy to refer you to the appropriate professionals.

The information contained in these calculators and reports is for informational purposes only. The use, presentation or receipt of this information does not constitute an offer to lend, an application, a Good Faith Estimate, or estimate of fees. Where included, interest rates are subject to change at any time and are not intended to be viewed as the current market rate. Annual Percentage Rates (APRs) can also vary at any time and are presented as approximations. APRs shown here are generally calculated conservatively and may be higher than the actual current market APR, which will be determined and disclosed upon request of a formal Good Faith Estimate or upon application for financing. Every effort has been made to assure the accuracy of the information and mathematical calculations; however, the provider makes no guarantee and maintains no liability for use of or reliance upon the results. Formulation of a scenario using these tools does not mean that the results are guaranteed. All loan products have guidelines, and those rules or tolerances will vary based upon many factors, including but not limited to loan to value ratios, income, employment history, debts, assets, creditworthiness, and underwriter's review and approval.

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