Mortgage Acceleration  
Paying just a little extra on your mortgage each month can have a dramatic effect on the time it takes you to pay off your mortgage and the amount of interest you pay over the life of the loan. Adding $100 to $200 per month to your usual payment can take years off the length of your loan and save you tens of thousands of dollars in interest. This calculator is designed to show you how much time — over the life of the loan — and money you can save by paying an additional amount in your mortgage payment each month.
     

1. What was the original face value of your loan?

$

2. What is the annual interest rate on your loan?

%

3. What was the original term of the loan (in months)?
(E.g., for a 30-year loan enter 360 months.)

4. How many monthly payments have you already made?

5. What is the additional amount you are considering adding to your monthly payment?

$
 
   
   
Ok401k, Inc.
13924 Quail Pointe Drive • Oklahoma City, OK • 73134
Phone: (405) 603 4986 • Fax: (405) 603 7765
• terrencemorgan@ok401k.com

 
 
Terrence Morgan, AIF is a Registered Representative of and offers securities though Wilbanks Securities, Inc. Member FINRA & SIPC.  Securities activities supervised from Wilbanks Securities, Inc. at 4334 Northwest Expressway, Suite 222, Oklahoma City, Ok.  73116.    (405) 842 0202.  Fee based through Wilbanks Securities Advisory.  Fiduciary status requires employer being given WSA ADV form Part II and a fee agreement must be established. 

Privacy Policy