early payment mortgage calculator bankrate

Early Payment Mortgage Calculator: How It Can Save You Thousands

Are you tired of feeling trapped in a mortgage with high interest rates and lengthy repayment periods? Look no further than Bankrate's early payment mortgage calculator. With this powerful tool, you can determine how much you can save by making extra payments on your mortgage.

As the leading personal finance website, Bankrate is committed to providing consumers with the expert advice and tools they need to succeed in their financial journey. Our editorial team receives no direct compensation from advertisers, ensuring that our content is honest and accurate.

Using the early payment mortgage calculator, you can easily see how making extra payments on your mortgage can shave years off your repayment period and save thousands of dollars in interest. For example, let's say you have a 30-year mortgage with an interest rate of 4%. If you make an extra $100 payment each month, you could save over $12,000 in interest and pay off your mortgage over 20 years instead of 30.

But how does it work? Our early payment mortgage calculator takes into account the outstanding balance on your mortgage, the interest rate, and the number of payments you've made so far. Simply enter these details, along with any additional payments you want to make, and our calculator will generate a customized report showing you how much you can save.

Bankrate's commitment to providing accurate and unbiased information is unparalleled in the industry. Our editorial team follows strict guidelines to ensure that our content is not influenced by advertisers, and our editors and reporters thoroughly fact-check each article before publication.

So why wait? Try Bankrate's early payment mortgage calculator today and start saving thousands on your mortgage. With our interactive tools and financial calculators, you'll be well on your way to achieving financial freedom.

Early payment mortgage calculator bankrate