Extra & lump sum payment calculator. Although this calculator acts as a simple mortgage calculator, you can also use it to see how much you can save when you make extra payments regularly, or if you make a one-off lump sum repayment into the mortgage.
The mortgage payoff calculator lets you see the effect of making an extra. Then, 5 years later, you make an extra $10,000 lump-sum payment. Doing so pays off the mortgage 2 years and 4 months.
Making a lump sum (or several lump sum) payments will decrease the amount of time you’ll carry your debt – dramatically. Related: Why you need a wealth plan, not a financial plan. Try running your own numbers on this Debt Repayment Calculator so you can see the benefits of lump sum payments today! Debt Repayment Calculator Terms & Definitions
different type of mortgages how do you buy a home with no money down Here’s how to figure out the amount of cash you need to buy a home, and what you can do to buy a home using as little money down as possible. Contrary to popular belief, you don’t need 20% down.