Mortgage payoff calculator

Como usar a Mortgage payoff calculator

O que calcula e quando usar

This calculator shows how much sooner you could be mortgage-free, e how much interest you would save, if you overpay each mon.ª ou make a one-off lump sum.

Como usar, passo a passo

1. Enter your Corrente Saldo, Juros Taxa e the Anos remaining.
2. Add the extra amount you can pay each mon.ª e qualquer lump Soma you could Pagamento now.
3. Compare the new payoff Hora e Juros with the original plan.

O que significa cada campo

• Mortgage Saldo now – What you still owe, not the original loan.
• Taxa de juros – Your Corrente Anual Taxa.
• Anos left – The remaining Prazo on the mortgage.
• Extra por mês – Money added a Cada regular payment.
• Lump Soma – A one-off payment applied immediately a the Saldo.

Como ler os resultados

• Mortgage-free pol. – How longa the loan lasts with your overpayments.
• Juros saved – Juros without extra payments minus Juros with them.
• Payment you make now – The required payment plus your extra Quantidade.

A fórmula

The required payment é P × r ÷ (1 − (1 + r)^−n). Each month interest = balance × r, e the whole payment plus extra, minus that Juros, reduces the Saldo. The loop runs até the Saldo reaches zero.

Um exemplo prático

A 200,000 balance at 5.5% with 25 years left has a required payment de 1,228.17. Paying 200 more each month clears it em 18 years 9 meses, 6 Anos 3 months sooner, e cuts interest from 168,452 a 120,683, a saving de about 47,770.

Premissas e limites

• A fixed Taxa por the rest de the term.
• Overpayments are accepted without charge. Many lenders cap penalty-free overpayments, often A 10% de the balance por ano.
• The lump Soma é Pagas immediately.

Erros comuns

• Overpaying while carrying higher-rate debt such as credit cards. Limpar the dearest debt first.
• Using up emergency savings por overpayments.
• Forgetting that a fixed deal may carry an early repayment charge.

Perguntas frequentes

Ferramentas relacionadas