Mortgage Calculator With Extra Payments And Lump Sum

In an online calculator your calculations do not remain saved. Extra payment mortgage calculator with multiple extra payments and lump sum has option to export the amortization schedule with extra payments in excel or pdf format.

Previously you must understand the background of Mortgage and get some Mortgage calculator with extra payments and lump sum references in other articles on this website.

This saves you 74 973 22 in interest costs.

Mortgage calculator with extra payments and lump sum. The amortization table has all the details about your mortgage payments such as principal interest paid remaining balance as well as tax and insurance. Your monthly payment also stays the same at 1 397 87. Please see our bi weekly mortgage calculator if you are using biweekly payments to make an effective 13th monthly payment.

This is one of the most versatile excel templates to calculate your extra payments and lump sum with your mortgage loan. For example if you are 3 5 years into a 30 year home loan you would set the loan term to 26 5. The extra lump sum payment decreases the total interest to 128 260 72.

Single lump sum. Extra payments in the middle of the loan term. And the biggest benefit is you can use this template over and over again.

If your additional payments are made more frequently than monthly the amortization table will show those extra payments as being rolled into your monthly payments. Enter in one time box. A weekly bimonthly or other extra payment will be automatically converted into the monthly equivalent amount.

While you keep paying the same amount this reduces your payment term to 22 years. With the original loan the total interest is 203 233 94. Make an extra mortgage payment.

If you start making extra payments in the middle of your loan then enter the current loan balance when you started making extra payments and set the loan term for however long you have left in the loan. You have to input data again and again.

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