Extra payment mortgage calculator

Last updated: January 1

This extra payment mortgage calculator helps to explain how advantageous it is to pay a little extra on top of what you're already paying for your home. It looks at your loan amount, appraised value, loan term, property taxes, insurance, and interest rate. Variables you can experiment with based on your situation are the amount of the additional payment and the amount of months until you begin. However, be aware that some mortgages have a prepayment penalty.

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