Mortgage Repayment Calculator

What will your repayments be?

Mortgage Repayment Calculator

When you set your original loan term your repayments will pay off your total mortgage exactly at the end of term. If you increase your repayments early on you reduce the total mortgage at the beginning of the term. This in turn decreases the amount of interest due in each payment - compounding your repayment by using more of it each payment to reduce your mortgage.

INSTRUCTIONS:

Loan Amount:

Enter your current (or potential) mortgage balance.

Loan Term:

Enter the number of years you have remaining on your mortgage (not your fixed term interest rate, but your actual mortgage).

Interest Rate:

Enter your current interest rate - or the average rate you expect to pay over the future.

Payment Frequency:

Enter your repayment frequency.

Extra Contribution Per Payment:

Enter how much extra you could afford to pay on your repayments.

Watch the graph change and see:

How much interest you can save
How many years earlier you can get mortgage free.

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