![]() ![]() To use the early payoff mortgage calculator, simply enter your original loan amount when you first received the loan, along with the date you took out the home loan. Enter the original loan amount and date you took out the mortgage. ![]() How to Use the Early Payoff Mortgage Calculator It might earn a better return in the stock market or someplace else. You might be surprised at the potential savings, but be sure to consider where you’d put that money elsewhere. This early payoff calculator will also show you how much you can save in interest by making larger mortgage payments. It will depend on the mortgage rate and the loan balance. Of course, that’s just a ballpark estimate. So if you’re currently paying $1,000 per month in principal and interest payments, you’d have to pay roughly $1,500 per month to cut your loan term in half.
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