• Schedule a Complimentary Consultation
  • Contact Us
  • Got Questions? Ask Us!
Schedule a Complimentary Consultation

x

Contact Us

x

Got Questions? Ask us!

x

Main Content

Home » Exchange Calculators » Mortgage Length Calculator

Mortgage Length Calculator

Input Information
Loan Information
($)

(%)

(Years)

Considered Monthly Payment
($)





Financial Analysis (Switch to Plain English)
Original Payment :
$1,342.05

New Payment :
$1,304.12

New Length of Loan :
32 Years 2 Months

Plain English Help (Switch to Financial Analysis)

If you start to pay more or less toward your mortgage each month than the original payment amount, you can save or add a number of years to the length of your mortgage. Even the difference of just $40 can save you a couple of years or add a couple years to the length of your payment.

If you took out a mortgage loan for $250,000.00 with a 5.000% interest rate, for example, you could expect to pay $1,342.05 per month. If you change your payment to $1,304.12, however, you will have to pay on your mortgage for 32 year(s) and 2 month(s) instead of 30 years.