Mortgage Amortization Calculator

You would be surprised what a small monthly increase or decrease on your monthly payments can do for you in the overall expected length of your mortgage plan.

Our Amortization Calculator can provide you the insight and details you need to determine what results an increase or decrease of monthly payments would mean for the length of your mortgage.

You will get a clear and understandable amortization schedule based on the required data you have supplied, such as interest rate, etc.

When you're finished you can also save the results given by the loan amortization calculator and have the complete amortization schedule send to you in .pdf format to your email address.

Mortgage Length Calculator

Input Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Years)
Considered Monthly Payment
Monthly Payment : ($)
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Financial Analysis (Switch to Plain English)
Original Payment : $1,342.05
New Payment : $1,304.12
New Length of Loan : 32 Years 2 Months
Plain English Help (Switch to Financial Analysis)

If you start to pay more or less toward your mortgage each month than the original payment amount, you can save or add a number of years to the length of your mortgage. Even the difference of just $40 can save you a couple of years or add a couple years to the length of your payment.

If you took out a mortgage loan for $250,000.00 with a 5.000% interest rate, for example, you could expect to pay $1,342.05 per month. If you change your payment to $1,304.12, however, you will have to pay on your mortgage for 32 year(s) and 2 month(s) instead of 30 years.
DISCLAIMER: There is NO WARRANTY, expressed or implied by LoanQuotes.com concerning the accuracy of the information provided or it's applicability to your personal financial situation. To obtain a definitive answer please consult with your own financial advisor.
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