Mortgage Amortization Calculator

This calculator will help you to determine your savings if you make larger monthly payments.

Loan Information
Amount
$
Interest Rate
%
Length
years

Considered Monthly Payment
Monthly Payment
$

Original Payment $1,342.05
New Payment $1,304.12
New Length of Loan 32 Years 2 Months

If you start to pay more or less toward your mortgage each month than the original payment amount, you can save or add a number of years to the length of your mortgage. Even the difference of just $40 can save you a couple of years or add a couple years to the length of your payment.

If you took out a mortgage loan for $250,000.00 with a 5.000% interest rate, for example, you could expect to pay $1,342.05 per month. If you change your payment to $1,304.12, however, you will have to pay on your mortgage for 32 year(s) and 2 month(s) instead of 30 years.

Disclaimers: The information provided by these calculators is for illustrative purposes only. There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. The default figures shown are hypothetical and may not be applicable to your individual situation. The calculated results are also intended for illustrative purposes only and accuracy is not guaranteed. There is not tax or financial advice given. Default and calculated tax data are for illustrative purposes only. Be sure to consult a tax or financial professional regarding your specific situation and before relying on the results.

Any hypothetical monthly mortgage payments reflect hypothetical Principal & Interest amounts rounded to the nearest dollar amount and may not include insurance, taxes, or other possible fees. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer.

We have many other Mortgage Calculators for you to use.

Make sure you register to receive my Free Homebuying Guide and Insider Mortgage Reports, browse my Resources section, fill-out a FREE No-Obligation Secure Online Loan Application, or call me in my Orange, California office at 800-306-1990. I am here to help you with all your mortgage needs.

Geneva Financial does Business in Accordance With Federal Fair Lending Laws.
Geneva Financial is not acting on behalf of or at the direction of HUD/FHA or the Federal Government.
Geneva Financial is approved to participate in FHA programs but the products and services performed by Geneva Financial are not coming directly from HUD or FHA.

Siegel Lending Team at Geneva Financial
Ron Siegel
Ron Siegel is licensed under CalBRE # 01869452 | NMLS #217037 at Geneva Financial NMLS #42056
Home Loan Strategist
3111 N Tustin Ave
Ste 150
Orange, California 92865

Phone: 800-306-1990
Equal Housing


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