Mortgage Calculator With Extra Payments Amortization

If you have an amortized loan, you can benefit from making extra repayments by viewing a mortgage calculator with extra payments amortization. An amortized loan is one where the loan is paid back in a series of regular payments over a fixed period. Paying off money that you borrowed (the principal payment), you will also pay interest, together this is called P&I, or the front-end debt-ratio. This interest is calculated as a percentage of the principal amount. Therefore, if you are able to make extra payments against the principal amount, your interest payments should decrease and you pay the debt off faster.

Even small overpayments can make a big difference, over time. You can optimize repayments by gauging your disposable income and assessing the options available to you. You can use a mortgage payment calculator to work out exactly how your repayments will change over time and when you will be able to clear the remainder of the debt.

Mortgage Calculator With Extra Payments Amortization

However, there are some instances when making extra payments may not be the best choice. If you have a loan with an early repayment charge, making extra repayments could mean that you end up paying more overall or running out of excess cash for a rainy day. The overall goal should be for you to pay your mortgage as if it were a business and you are the CEO.

If you are unsure about the best way to pay back your mortgage, connect with us at, we are mortgage brokers and may be able to help.


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