Enter Loan Details: Input your Original Loan Amount, Interest Rate (%), and original Loan Term (Years). These are required.
Optional Details (for accuracy): For a more precise calculation based on your current situation, you can add your Mortgage Start Date and Current Loan Balance. If you know your current Principal & Interest (P&I) payment (excluding taxes/insurance), enter it; otherwise, we'll calculate it.
Select Acceleration Scenarios: Check the boxes for strategies you want to explore, such as Bi-Weekly Payments, adding an Extra Monthly Payment (enter the amount), making an Annual Lump Sum payment, or even an Occasional Lump Sum on a specific date. You can also choose to Round-Up your payment to the nearest $100.
Calculate Your Savings: Click the "Calculate Savings" button to see the results!
Understanding your mortgage is key to managing your finances effectively. This calculator goes beyond simple payment estimations; it helps you:
Visualize Your Savings: Clearly see the exact amount of time (years and months) you can shave off your loan term.
Quantify Interest Reduction: Understand the substantial dollar amount you can save in total interest payments over the life of the loan.
Compare Payoff Strategies: Easily toggle different scenarios (like bi-weekly vs. extra payments) to see which method yields the best results for your situation.
Make Informed Decisions: Use the data to confidently decide on the best mortgage acceleration plan that fits your budget and financial goals.
Plan for a Debt-Free Future: See a tangible projection of your new payoff date and get motivated to achieve mortgage freedom sooner.
Explore strategies to pay off your mortgage faster and see how much time and interest you could save!
Understanding your options is the first step. Let's discuss your specific situation and goals.
Contact John Sansaricq to Review Your Payoff PlanOnce you calculate, you'll see a clear comparison:
Standard Payoff: Shows your estimated payoff date and total interest paid if you make only your regular payments with no acceleration.
Accelerated Payoff: Displays your new, earlier payoff date and the reduced total interest paid based on the strategies you selected.
Time & Interest Saved: Quantifies the direct impact – how many years/months sooner you'll be mortgage-free and the total interest savings.
Monthly Impact: Summarizes your estimated monthly payment under the accelerated plan (Note: This reflects regular P&I plus any consistent extra payments like bi-weekly simulation, round-ups, or fixed monthly extras).
Amortization Chart: The optional chart visually compares the payoff curves, showing how quickly your balance decreases with the accelerated plan versus the standard one.
Let John Sansaricq and the SanCastle Realty team help you interpret these results and discuss the best path forward for your homeownership journey in Florida.