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? $

Securities and Investment Advisory Services offered through Woodbury Financial Services, Inc., Member FINRA, SIPC and Registered Investment Adviser. PO Box 64284, St. Paul, MN 55164 (651)738-4000  LeFever Financial, Inc. and Woodbury Financial Services, Inc. are not affiliated entities.  "Neither Woodbury Financial Services, Inc., nor its registered representatives or employees provide tax of legal advice. As with all matters of a tax or legal nature, you should consult with your tax or legal counsel for advice."

 

Services are only provided in jurisdictions where David LeFever is licensed to conduct business and currently include NC, FL and VA.