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Does Loan Prepayment Really Pay Off? This form allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan.

Home Buyer Tools    How much house can I afford?    How much can I borrow?    What does a loan really cost?    What is the APR of a loan? Home Owner Tools    Does prepayment pay off?    Is it better to prepay or invest?    When will my loan be paid off?    How long before I'm a millionaire? Ask Your Own Question

If you know your current principal balance and principal/interest payment, choose option A then fill out fields A1 and A2. Otherwise choose option B and enter the three values for your loan in B1, B2 and B3. (Original Loan Amount, Month of First Payment, Length of Loan). Choose the Option: option A Option B A1. Current Principal Balance (if known) A2. Current Prin+Int Monthly Payment B1. Original Principal Balance (otherwise) B2. Month of First Payment (otherwise) / B3. Length of Mortgage (Years) Fill out the following table for either case: Current Annual Interest Rate Additional Monthly Pre-Payment Enter B for bi-weekly conversion Increase Monthly Payment each year by (%) Show Table Skip Table

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