Extra payment amortization schedule has many benefits. The most important one is a positive impact on your interest savings, which means that in total you would pay less money for your loan. How much interest can you save on voluntary extra mortgage payments?
With mortgage extra payment calculator you can calculate the amount of money you can save by adding some extra payments to your required mortgage scheme. The fact is that the majority of your mortgage monthly payment in the first years of the loan will be spent for interest payment and have almost no impact towards the principal of the loan.
Extra payments can help you change that, make your loan cheaper and repay it early. Every extra payment towards principal you made would shorten the loan term and reduce the total interest on your mortgage. You can save hundreds of dollars in interest that way, so do not hesitate, but try to calculate your extra payment options and your interest savings now! For more information visit website #Extra Payment.