Mortgage Acceleration  
Paying just a little extra on your mortgage each month can have a dramatic effect on the time it takes you to pay off your mortgage and the amount of interest you pay over the life of the loan. Adding $100 to $200 per month to your usual payment can take years off the length of your loan and save you tens of thousands of dollars in interest. This calculator is designed to show you how much time — over the life of the loan — and money you can save by paying an additional amount in your mortgage payment each month.
     

1. What was the original face value of your loan?

$

2. What is the annual interest rate on your loan?

%

3. What was the original term of the loan (in months)?
(E.g., for a 30-year loan enter 360 months.)

4. How many monthly payments have you already made?

5. What is the additional amount you are considering adding to your monthly payment?

$
 
   
   
Thomas A. Newman & Associates
1022 W North Blvd • Leesburg, FL • 34748
Phone: 352-728-1122 or 1-800-728-5088 • Fax: 352-728-1217
• pwatson@woodburyfinancial.net

*Securities and Advisory Services offered through Woodbury Financial Services, Inc. Members of FINRA/SIPC and Registered Investment Advisor. “Newman and Associates, PA”  and Woodbury Financial Services Inc., are not affiliated entities.This communication may not be construed as a solicitation to buy or sell any security. Investment in any security involves risk, including the possible loss of principal. Information relating to securities is intended for use by individuals residing in Connecticut, Florida, Georgia, North Carolina, Ohio and and Pennslyvania only.

 
 

 

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