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Mortgage Calculator
Interest Rates
Monthly Mortgage Payment
Real Estate Investing
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Extra Principal Payments
This is the best mortgage calculator on this website. LEARN IT! It's the best way to save money I've come up with! If you plug your mortgage information into the calculator above and put $10.00 in the "extra repayment" spot then you will see that you save over $6,000.00 in interest and 1 year and 3 months off your mortgage loan.
Plug in $20.00 and see that you save over $11,000.00 in interest and 3 years and 6 months off your mortgage loan. It's amazing how quick the money can add up because if your mortgage is for $100,000.00 that means you have over $115,000.00 in interest as well that you could save.
There are many different ways to save money so that you can come up with an extra $10.00 per month. I have a page on this site dedicated to saving money on your mortgage interest (Ways to Save Money). If you could manage to come up with $50.00 per month before you start then you're one step ahead. I started putting an extra $200.00 to my mortgage a year ago and now it seems as if it's my actual mortgage payment. The amount of money you can save is huge so try it out and a year down the road you will think back and be very happy you made that choice!
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