How much additional monthly payment is necessary to pay off your mortgage?
Payoff Goal
Unpaid Principal Amount
Interest rate (Annual)
Current Monthly Payment (Principal & Interest Only)
Pay Off Goal (Years From Now)
Results
Added Monthly Payment Necessary to Meet Goal
Savings in Interest

If you would like to pay off your mortgage in 20 years instead of the current 24.92 years, you will need to start making a second monthly mortgage payment in the amount of $235.99. This will cut your current mortgage interest cost from $164,675.40 down to $128,379.90, a savings of $36,295.50 in interest charges.

Sergio Avelino

Address:1440 Don Mills Rd., #108
Toronto, Ontario
M3B 3M1
Direct:416.554.4267
Email:SergioJ.Avelino@gmail.com