Early Mortgage Payoff
Many home owners are not fully aware how much money can be saved in interest expense by shortening the life of a mortgage. Early Mortgage Payoff was written to show the homeowner the HUGE savings that can be realized by making additional principal payments to a loan. There are no gimmicks here, just simple math! Most homeowners would love to burn their mortgage papers.
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Many home owners are not fully aware how much money can be actually saved in interest expense by shortening the life of a mortgage. Early Mortgage Payoff was written to show the homeowner the HUGE savings that can be realized by making additional principal payments to a loan. There are no gimmicks here, just simple math!
For an example, let us take the case of a $125,000 loan at 10% interest with a life of 30 years. The monthly payment would be $1,096.96. The total repayment is $394,915.99. After subtracting the $125,000 principal amount that the borrower received, there is a total interest charge of $269,915.99. This is over a quarter of a million dollars just in interest, that the homeowner pays to the mortgage company! Over two times the amount of the original loan!
Most homeowners would love to burn their mortgage papers. Many dream of one day fully owning their home, of obtaining the peace of mind that comes with no longer having a house debt over their heads.
This dream can become reality sooner than most homeowners think. Many people are not familiar that even small additional payments can decrease the total amount of interest they will pay. Early Mortgage Payoff will help make your dream come truer sooner!
Early Mortgage Payoff is one of the easiest to use mortgage amortization calculators around! Create your own amortization tables by providing a few details about your loan, and within seconds, your amortization schedule will appear in a table, similar in appearance to a spreadsheet. Simply scroll up and down through the amortization table to review your monthly payments and add extra principal payments. Great for playing "what-if". Powerful, yet very practical, for it shows you how much $$$ you can save by prepaying a loan. It even tracks escrow accounts and allows user notes/comments to be attached to each loan.