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?

$
 
   
   
New Jersey Financial Advisor Firm, Employee Benefits Advisor, Retirement Planning Advisor - James J. Varaklis & Company
3 Werner Way
Suite 204		 • Lebanon, NJ • 08833
Phone: Toll Free: 888-849-5580
Local: 908-849-4800 		• Fax: 908-849-4803
www.JJVCO.com • james@jjvco.com

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Registered Representatives of LPL Financial whose identities and associations with James J. Varaklis & Company are disclosed on this site may only discuss Securities or Transact Business with persons who are residents of the following states:  California, Connecticut, Florida, Massachusetts, Maine, Maryland, North Dakota, New Jersey, New York, Pennsylvania, South Carolina and Virginia.