Calculate mortgage acceleration for real estate investments and properties
Enter current loan terms and extra payment amount. The calculator shows how additional principal payments reduce term and save interest.
Adding $300/month to a $300,000 30-year loan at 6% saves $112,000 in interest and pays off loan 9 years early.
Make one extra monthly payment per year, pay biweekly, round up payments, or apply windfalls (bonuses, tax refunds) to principal.
If mortgage rate is below expected investment returns, investing may be better. Consider guaranteed return of paying mortgage vs risk of investing.
No, they reduce loan balance and shorten the term. Payment stays the same unless you recast or refinance the loan.