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Mortgage prepayment comparison

Mortgage Payment Comparisons 30 year $300,000 Mortgage at 4.0% interest Mortgage Prepayment Options Monthly Payments Total Payoff Date Interest Paid Regularly Scheduled Payments $1,432.25 $215,608.52 30 years %24 ~ 26.5 $100 Additional Monthly Prepayment $1,532.25 $186,861.93 years 1 Extra Monthly Prepayment Annually -25.75 13 $1,432.25** $181,013.42 years -28.2 One Time Lump Sum Payment of $10,000* $1,432.25 $194,943.08 years *Lump sum made at end of year 1 **Indicates monthly payment excluding additional annual payment made

Mortgage prepayment comparison

shared by audra4 on Jun 06
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Chart dislpaying the differences in payoff time and total interest paid depending on how and if you prepay your mortgage.

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Economy
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