New Design Not working For You?

If the new page layout is not working for you, please Contact Me and let me know what device, operating system, and web browser (with version numbers) you are using so I can attempt to get the layout working for your setup.

About the Redesign

If you visited this site prior to September 15th, 2018, you've no doubt noticed that I've since launched a complete redesign of the website.

If you're not happy with the new design, I sincerely apologize. I would have preferred to keep the old desktop design, but considering the majority of my site's users are now accessing the site from small-screen, touch-enabled, mobile devices, and considering Google is now penalizing websites for not being mobile/thumb friendly, I was left with no choice but to switch to a responsive, mobile-first design.

The good news is that now that I have combined the three separate versions of the site (mobile, desktop, and ad-free member) into a single design, this will free up a ton of my time for working to make the mobile-optimized calculators more desktop/laptop friendly. In fact, some of the redesigned calculators already offer a desktop-optimized form that becomes visible when you increase the width setting of the calculator (within the "Calculator Preferences" expandable panel).

Thank you in advance for your help and patience as I work to improve the redesign.

-Dan

Calculator Preferences
Midterm Mortgage Savings Calculator Sign

Midterm Mortgage Savings Calculator

This calculator will calculate the mid-term interest you will save if you add any number of prepayments to your future house payments, for as long as you plan on staying in your current home instead of until the home is paid off. The calculated results include a year-by-year mortgage interest savings chart. The Tips tab includes:

  • How Do Prepayments Create Mortgage Interest Savings?
  • How to Make Prepayments on Your Next Home
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Orig loan:Original loan:Original loan amount:Original home loan amount:

Original home loan amount:

Enter the dollar amount of the original home loan (principal borrowed) without the dollar sign.

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual percentage rate (APR) of the home loan without the percent sign (for 6.5%, enter 6.5).

Orig years:Original years:Original term in years:Original home loan term in number of years:

Original home loan term in number of years:

Enter the original repayment term of the house loan in number of years (whole years only, i.e., no decimal point).

Pmts made:# pmts made:Number of payments made:Number of payments already made:

Number of payments already made:

Enter the number of monthly house payments you have already made. If you have not made any payments, leave blank or enter a zero.

Prepay:Monthly prepay:Monthly prepayment amount:Monthly mortgage prepayment amount:

Monthly mortgage prepayment amount:

Enter the monthly amount you can afford to add to your existing payment to prepay your mortgage, without the dollar sign.

Periods to apply prepayments:Periods to apply prepayments:Number of periods to apply prepayments:Number of periods to apply prepayments:

Number of months or years to apply prepayments:

Enter the number of months or years you will continue to add the prepayment amount to the existing payment.

Remain yrs:Remain years:Years in current home:Years you plan to stay in current home:

Number of years you plan to stay in current home:

Enter the number of years you plan to stay in your current home. The mortgage savings calculator will calculate mortgage prepayment savings for the entered number of years, or until the mortgage is paid off -- whichever is sooner.

Payoff:Current payoff:Current payoff amount:Current mortgage payoff amount:

Current mortgage payoff amount:

Based on your entries, this is how much you still owe (principal balance) on your mortgage after deducting all of the principal payments you have already made.

Crnt pmt:Current pmt:Current monthly payment:Current monthly P & I payment:

Current monthly principal and interest payment:

Based on your entries, this is the amount of your current monthly principal and interest (PI) payment. This does not include property tax or insurance payments. If this result does not closely match your actual payment, please check that you have entered the correct beginning balance, term, interest rate, and number of payments made.

New pmt:New payment:New monthly payment:New monthly principal and interest payment:

New monthly principal and interest payment:

Based on your entries, this is your current monthly payment plus the prepayment amount you entered in the top section of the mortgage savings calculator.

Int save:Interest savings:Prepayment interest savings:Interest saved by making monthly prepayment:

Interest saved by making monthly prepayment:

Based on your entries, this is how much interest you will save if you add the prepayment amount for the number of months/years you entered, and if you stay in the home for the entered number of years.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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