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How Will Extra Payments Affect My Mortgage Loan?

By nature, loans cause you to pay a sometimes significant amount of money in interest. However, there may be a way for you to decrease the total amount of interest you will pay on your loan and pay off your loan faster with small additional monthly payments toward your debt. Use this calculator to see how extra payments will affect your loan.

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Understanding your current financial status can clarify both short and long-term goals. Our calculators help you get a clearer picture of where you are now financially, where you're headed, and what you can do to get there fast and with the best results.

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further reading

Mortgage Preapproval

What is mortgage preapproval?

Advice Hub | 4/1/2023

Whether you’re looking for your first home or your dream home, it’s important to find out how much you can afford and what listing price you’re comfortable with.

How to save for a home

Tips to save for mortgage down payment

Advice Hub | 2/14/2023

Saving for a down payment on a house can be the biggest obstacle first-time or repeat home buyers have to overcome.

Should I buy a home when interest rates are high

Should I buy a home when interest rates are high?

Advice Hub | 12/27/2022

A high interest environment could work to your advantage

Dreaming of building your dream home

Dreaming of building your next home?

Advice Hub | 9/20/2022

If you’re ready to move but just can’t find the perfect home in your area, chances are you’ve started dreaming of building your home.

Read More in Advice Hub

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