Prepayment Mortgage Reduction

This form allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan. If you know your current principal balance and principal/interest payment, enter then in fields A1 and A2. Otherwise enter the three values for your loan in B1, B2 and B3. (Original Loan Amount, Month of First Payment, Length of Loan).

Change these fields as desired: Choose the Option: Option A Option B

A1. Current Principal Balance (if known) A2. Current Monthly Payment less Escrow

OR

B1. Original Principal Balance B2. Month and Year of First Payment -  B3. Length of Mortgage (Years)

AND

Current Annual Interest Rate
Additional Monthly Payment - Enter B for Biweekly Conversion
Increase Monthly Payment each year by (%)

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