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Prepayment Mortgage Reduction Calculator

This calculator allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan. If you know your current principal balance and principal/interest payment, enter then in fields A1 and A2. Otherwise enter the three values for your loan in B1, B2 and B3. (Original Loan Amount, Month of First Payment, Length of Loan).

Input
Choose the Option:
Only if you choose Option A
A1. Current Principal Balance (if known)
A2. Current Prin+Int Monthly Payment
Only if you choose Option B
B1. Original Principal Balance (otherwise)
B2. Month of First Payment (otherwise)	-
B3. Length of Mortgage (Years)
For both Option A and B
Current Annual Interest Rate
Additional Monthly Pre-Payment*
Increase Monthly Payment each year by (%)
Table Diaplay

* Enter B here to do a biweekly conversion from here.

The accuracy of this calculator and its applicability to your circumstances is not guaranteed. Results should be discussed with a qualified professional before any product purchases or loan commitments are made.