Deborah M. Gorman and Associates - Providing mortgage loans and information in Missouri

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How long will my mortgage last if I pay more?

Input

Loan Amount
Interest Rate
Monthly Principal & Interest

Instructions
This calculator figures how long your mortgage will last depending on how much you pay monthly. Use our Payment Calculator if you do not know your monthly principal and interest payment. Input an amount higher than your payment and calculate when your mortgage will be paid based on the higher payment.

Results

Loan Amount:	$100,000.00
Interest Rate:	6.00%
Payment Amount:	$733.76
Time:	19 Yr(s) 2 Mth(s)

These calculations are only estimates and cannot be used to determine actual amount of time it would take to pay your loan in full if you pay a higher amount each month. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.