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Extra Repayments Calculator

If you find yourself in a situation with more regular money at hand, extra repayments on your mortgage can help you significantly over the long-term. Smart Property Investment's extra repayment calculator can find out how quickly you can pay off a loan with additional payments.
DISCLAIMER: The information provided by this calculator is intended to provide an approximate estimate based on stated assumptions and inputs entered. For more information, read more on Copyright, Legal and Disclaimers.
 

Definitions:

Loan amount
The total value of the loan applied for in a loan agreement.

Interest rate
The amount of interest due per period, as a proportion of the amount loaned, deposited or borrowed.

Loan term
The number of years needed to repay the loan, as indicated in the loan agreement.

Repayment scheme/frequency
The schedule in which repayment is made, whether the loan is paid every monthly, fortnightly, or on a weekly basis.

Extra contribution per payment
The amount the investor plans to make above the stipulated repayment amount in a loan agreement in order to fulfill the loan.

Extra contribution starts after
Period of time that has passed from the start of the loan agreement until the current month when repayment was made in which the extra payment was applied to the loan agreement.

Minimum monthly repayments
An amount that estimates the value of monthly repayments to be made to use by investors to satisfy the loan.

Increased monthly repayments
An amount that estimates the value of monthly repayments to be made to use by investors to satisfy the loan added to the extra contribution made to the loan agreement.

Time saved
Period of months or years in which the amount of extra contributions applied to the loan agreement that is subtracted from the stipulated period of time in the loan agreement.

Interest saved
Amount of interest payments in which the amount of extra contributions applied to the loan agreement that is subtracted from the stipulated total repayments to be made in the loan agreement.

DISCLAIMER: The information provided by this calculator is intended to provide an approximate estimate based on stated assumptions and inputs entered. For more information, read more on Copyright, Legal and Disclaimers.

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