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Real-Estate Investment Worksheet Mortgage Payoff Rent vs. Buy Compound Interest & Return Cool Million
In this section:
The Complete Guide to Selling a
Business
What is my business
worth?
PBS -Nightly Business Report
OUTLOOK 2010
What's Next for the Markets and the Economy - Webcast -
Creating a Succession Plan
Do you have a strategy for what will happen to your small
business once you no longer run or own it? ....

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Also see: PA Business Calculators
Mortgage Payoff CalculatorHow much interest can you save by increasing your mortgage payment? This financial calculator helps you find out. Click the "View Report" button to see a complete amortization payment schedule, and how much you can save on your mortgage!
Definitions
- Annual interest rate (APR)
- The yearly cost of a mortgage, including interest, mortgage insurance, and the origination fee (point(s)), expressed as a percentage. Maximum APR is 20%.
- Mortgage length (years)
- Total length, or term, of your original mortgage in years. Most common lengths are 30 years and 15 years.
- Original mortgage amount
- The original amount financed with your mortgage. Not to be confused with the remaining balance or principal balance.
- Additional monthly payment
- Your proposed extra payment per month. This payment will be used to reduce your principal balance.
- Scheduled payment
- Monthly principal and interest payment (PI) based on your original mortgage amount, term and interest rate.
- Accelerated payment
- Scheduled payment plus additional monthly payment.
- Total savings
- Total amount you would save in interest if you made the accelerated payment until your mortgage was paid in full.
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