Mortgage Payoff

Mortgage Payoff Calculator

How much interest can you save by increasing your mortgage payment? This financial calculator helps you find out. Click the "View Report" button to see a complete amortization payment schedule, and how much you can save on your mortgage!

This Financial Calculator requires SUN's Java Plug-in. If you see this message you will need to download SUN's Java Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing Install ActiveX Control.

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For more information about this Plug-in please visit: SUN's Java Plug-in
For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Annual interest rate (APR): The yearly cost of a mortgage, including interest, mortgage insurance, and the origination fee (point(s)), expressed as a percentage. Maximum APR is 20%.
Mortgage length (years): Total length, or term, of your original mortgage in years. The most common lengths are 30 years and 15 years.
Original mortgage amount: The original amount financed with your mortgage. Not to be confused with the remaining balance or principal balance.
Additional monthly payment: Your proposed extra payment per month. This payment will be used to reduce your principal balance.
Scheduled payment: Monthly principal and interest payment (PI) based on your original mortgage amount, term and interest rate.
Accelerated payment: Scheduled payment plus additional monthly payment.
Total savings: Total amount you would save in interest if you made the accelerated payment until your mortgage was paid in full.

MMW Holdings, LLC d/b/a Trident Home Loans is a HUD Approved Equal Opportunity FHA Lender, and is licensed by: the Florida Office of Financial Regulations as a correspondent mortgage lender, #CL0800130; the Georgia Department of Banking and Finance as a mortgage lender, #23097; the Louisiana Office of Financial Institutions as a mortgage lender, #LA-C-01326; the Mississippi Dept. of Banking and Consumer Finance as a mortgage company lender, #570/2008; and the Washington Department of Financial Institutions as a mortgage broker, #510-MB-50258.

Trident Home Loans is not responsible for any typographical errors or omissions.