Menu Investment & Resource Planning Mortgage Acceleration How Soon Could You Pay Off Your Mortgage? 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. This calculator is designed to show you how much time and money — over the life of the loan — you could save by paying an additional amount in your mortgage payment each month. What was the original face value of your loan? 0 200k 400k 600k 800k What is the annual interest rate on your loan? 2 4 6 8 10 What was the original term of the loan (in months)? 60 120 180 240 300 360 Previous Next This hypothetical example is used for illustrative purposes only. Actual results will vary. This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2021 Broadridge Investor Communication Solutions, Inc. This communication is strictly intended for individuals residing in the states of AZ, CA, CO, DC, DE, FL, GA, MD, ME, MS, NC, NH, NJ, NM, NV, NY, OR, PA, TN, VA, VT, WA, WV. No offers may be made or accepted from any resident outside the specific state(s) referenced. Securities offered through FSC Securities Corporation a Registered Broker Dealer, member FINRA/SIPC. Advisory Services offered through Investment & Resource Planning Associates, Inc. a Registered Investment Advisor, independent of FSC Securities Corporation Please Note: When you link to any of the websites displayed within this website, you are leaving this website and assume total responsibility and risk for your use of the website you are linking to. We make no representation as to the completeness or accuracy of any information provided at these websites. Privacy Policy Site Map Check the background of this financial professional on FINRA's BrokerCheck