Prepayment/Mortgage Reduction Calculator

See how much you can reduce the length of your mortgage loan by making additional prepayments. If you know your current principal balance and principal/interest payment, enter them in fields A1 and A2. Otherwise enter the information requested in fields B1, B2 and B3.

Change the fields below as desired...

Step 1: Select Option A or B,
then complete the table selected

A1. Current Principal Balance (if known)
A2. Current Prin+Int Monthly Payment

B1. Original Principal Balance (otherwise)
B2. Month of First Payment (otherwise) -
B3. Length of Mortgage (Years)

Step 2: Fill out this table

Current Annual Interest Rate
Additional Monthly Pre-Payment*
Increase Monthly Payment each year by (%)

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

Step 3: Run Your Calculations