#### Make Some Extra Payments and Pay Off Your Mortgage as Soon as You Can!

Additional extra payments can help you**repay your mortgage sooner**and help you

**reduce your total interest payments**for your loan. With extra payments, you can make great savings in interest payments and pay off your home loan much faster. Make an printable amortization schedule. To accomplish this, you need a mortgage calculator with extra payments.

Overall I like the tool. It should prove very useful for visitors to your site. Just a few things I would tweak:

Why do you have simple and compound interest? Structurally, all mortgages are simple interest. I think the compound interest will confuse things.

Instead of simple vs compound, I would like to see side by side 15 yr vs. 30 yr. That is usually a debate for homebuyers, and I think it would be more useful.

I tested the calculations and they all seemed to be accurate.

Down below with taxes and insurance, I would have the PMI default (or force) to yes for the EIR. Most people probably won’t grasp that it is a cost of financing so should be included.

Could you come up with a way to help visitors estimate the taxes and insurance? First time homebuyers especially have no clue what those costs can be. Not sure how to accomplish this, but I think it would help.

I like the extra payment calculator. Maybe you could draw more attention to it somehow to emphasize how much of an impact extra payments have on the finance costs.

Steeve69 Thank you for your comment. It will be a great help on this, so I prepared this calculator that will more useful.

First I should say that I wanted to make a calculator “all in one”, that mean in order to cover all functions and data, as such, it needs only a few people.

My problem is how to tell users that they have entry to Press the “Calculate”. Many still think that the calculation of annuities everything this calculator provides, but it’s less than 1% of total.

I please you to tell me your opinion on whether the graphs too much or not? Some think so. I think that the graph is never too much, but every view what suits him the most. How do you find a printable amortization schedule? They are there all the information needed by the user when negotiating with the bank?

I will be very grateful for the comments of other tools: Bi-Weekly, where the user learns how much will be saved if you will decide on a different way of loan repayment. Even Mortgage Refinance Calculator is looking for the most effective

way of loan repayment. With your Mortgage Payment Calculator is trying to give the user as much information about his credit. PMI Calculator tool helps the user to determine the PMI Payoff Date in a very simple way. With all the tools

necessary to use the Calculate button.

As you can see I have a lot of work to do. Your opinion will be a great help for me and thank you.

I like the bi-weekly function very much. That also has a huge impact on savings and I think you illustrate that effectively.

As far as the calculate button, the only thing I can think to try is to remove the auto-calc function whenever a number is changed. That way you force the user to push the calculate button each time they make a change.

Hope that helps.

Thanks

The multiple different approaches to viewing your mortgage payments, etc. is super helpful. Even extra payments can be calculated in. I’m a big fan of calculators like this – my bank has something similar I like to use to plan out my credit card payments. I’ll be sharing this tool with my friends looking into buying a house!

Thank you for your opinion. You gave me great incentive and I will add more options and do this mortgage calculator even more useful.

I’ve actually heard my friends talk about this and I wasted no time coming to see what it is about. The mortgage calculator looks quite like a simple online tool that can help me make the right financial decision to pay off my loan better than some others I’ve used. I really find this very resourceful.

I am glad you find some resourceful to use it and to do something good for you.

Building a personal extra payment amortization schedule for different payment frequencies may not always be easy even if it looks easy. The mortgage calculator is quite an easy to use online tool that helps determine the amount and frequency of your extra monthly payments and help you analyze all the possibilities you have. It’s actually a good idea if you ask me.

Thanks, you’re right. It is easy to make amortization schedule also in print format.

When considering taking up a mortgage we consider how much loan we have to pay and how long. It’s wonderful to have an online calculator to make things easier. The bonus part is with extra payments. That part of the calculator is a helping hand. Now I think I will definitely go ahead and get my dream house. Cheers to who made this possible. Thanks for the added help.

Extra payments are an advantage for those who want to repay the mortgage earlier. Thank you for your comment.

Getting a house isn’t easy to some, especially when it’s mortgage. I have been making payment for my house and it hasn’t been easy. I have used online calculators to help my payments but with this added features of extra payments it’s not just calculating but the idea to finish paying my loan in lesser time than I thought. This is just wonderful. I think I’ll tell my friends. I thank those who made this idea. Good job.

Thank you for your opinion. I’m sure your friends will be happy when you tell them about this calculator.

Is it really that extra payments can help make your loan cheaper and allows you repay it early? I actually believe that every extra payment towards principal would definitely shorten the loan term and reduce the total interest on your mortgage.

The amount of interest depends on the debt balance. With every additional payment, we reduce the balance, and therefore the interest is lower. I hope you find something useful for yourself.

Well to calculate the amount of money you can save by adding some extra payments to your required mortgage scheme would be a good thing. The majority of the mortgage monthly payment in the first years of the loan will be spent for interest payment and so no impact towards the principal of the loan. I totally must try this.

Thank Charlie.

Your advice will be useful for many people.

I really enjoyed the 20 % of equity. It didn’t take long to request PMI from my bank now and the calculator helps so well you’ll be surprised how it shows you all you need in a way you would understand everything needed at any point. .

You saved a lot with 20% down payment. You can still save a lot with extra payments.

Thank you for sharing your experience.

Clients keep asking me if it’s possible to reduce costs and shorten the term of the loan. But always the response is far using mortgage calculator with extra payments can definitely help make a financial choice that suits the best health.

I think so too. I hope that a mortgage calculator with extra payments will help a lot of people.

Thenks.

Gaining financial freedom can be quite easy but saving more money from mortgage can be quite interesting. Using mortgage calculator with extra payments printable amortization schedule would help your loan and save a lot of money because of its clear cut features.

It’s true, Joyce. If you make an amortization schedule with extra payment, you have full control over your expenses.

Oh, thank you for this mortgage calculator, it is very helpful.

Thanks for your opinion.

Just remind people there is simple interest calculated and applied monthly and there are some loans lenders sell that are simple interest and calculated by the number of days between payment due dates. This method creates more interest due on your payment due date, depending on the number of days between. If you make an early payment one month, they start the day count from that date and count days to your next scheduled payment…Tricky little devils. I speak from experience, I got caught in one

Thank you, Mr. Robert, for sharing your experience with the users of this service.