Calculate monthly payments and the impact of extra payments
 
Loan Amount:  The total amount of the money that you have borrowed.
Loan term:  The number of years you have to pay off the loan. years
Interest Rate:  The exact interest rate on your mortgage. This is different from the annual percentage rate or APR which is a standardized method of calculating the cost of a mortgage, stated as a yearly rate which includes such items as interest, mortgage insurance, and certain points or credit costs. % per year
Loan Start Date:
 
 
Monthly Payment:  This calculation includes only principal and interest. Mortgage payments usually include additional payments for insurance and taxes that are put into escrow to be paid out when they come due.
  Calculate the impact of making extra payments:
Adding $  to your monthly payment  This calculates the impact on the paid-off date of adding a specified amount to every monthly payment throughout the length of the loan.
Adding $  as an extra yearly payment every   This calculates the impact on the paid-off date of adding a single payment of a specified amount every year.
Adding $  as a one time payment in   This calculates the impact on the paid-off date of adding a single payment.
 
 
Changes paid-off date to  This tells you how much sooner your loan will be paid off if you add extra payments.