Sb1 Federal Credit Union - Mortgage Acceleration : Calculator: Mortgage Acceleration

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?	^$

Investment products and advisory services offered through CUSO Financial Services L.P. (CFS), a registered Broker-dealer and SEC Registered Investment Advisor. Investment products are not NCUA/NCUSIF or federally insured, are not obligations of the credit union, are not guaranteed by the credit union or any affiliated entity, and involve investment risk including the possible loss of principal. Investment Representatives are employees of Sb1 Federal Credit Union and registered through CFS (member FINRA/SIPC).