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.

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