Mortgage Calculator Pro
This mortgage simulation goes beyond traditional calculators by not only estimating your payments but also comparing different financial strategies. It allows you to see the impact of extra payments, investing instead of prepaying, and even reinvesting your mortgage payment after an early payoff. With detailed breakdowns, you can make informed decisions to optimize your financial future.
Mortgage Insights | |
|---|---|
Monthly Payment | $1,987.26 |
Property Value | $500,000.00 |
Down Payment | $150,000.00 |
Loan Amount ($) | $350,000.00 |
Total Pay | $817,960.02 |
Total Interest Payed | $317,960.02 |
Final Date | Nov 2051 |
Extra PaymentsAll extra payments details and advantages. | |
|---|---|
Total | $32,000.00 |
Interest Savings | $47,454.13Original interest:$365,414.14 |
Early Advantage | 3 yearsand 3 monthsOriginal: Feb 2055 |
Extra Payments or Invest?This simulation shows the potential outcome of investing extra funds instead of making additional mortgage payments. It projects investment growth over time, helping you compare the financial benefits of investing versus paying off the mortgage faster. Assuming an 6% annual investment growth. | |
|---|---|
Total Money Invested | $36,000.00by the end of the loan. |
Total Investment Value | $81,537.59by the end of the loan. |
Total Mortgage Payment | $865,414.14 |
Mortgage + Investment Payments | $901,414.14 |
Overall Net Worth | $581,537.59 |
Net LossAfter 30 years. | $-319,876.55 |
Extra Payments + InvestThis simulation combines extra mortgage payments with an investment strategy. After the mortgage is fully paid off, the system assumes you continue investing the original monthly payment for the remaining loan period. Assuming an 6% annual investment growth. In this simulation, after your early payoff date (Nov 2051) you are investing the monthly payment $1,987.26 for the remaining 3 years and 3 months | |
|---|---|
Total Money InvestedStarting at Nov 2051 | $77,503.20 |
Total Investment Value | $83,815.42 |
Total Mortgage Payment | $817,960.02 |
Mortgage + Invested | $895,463.21 |
Overall Net WorthAfter 30 years. | $583,815.42 |
Net LossAfter 30 years. | $-311,647.79 |
| # | Date | Payment | Principal | Interest | Extra Payment | Remaining Principal |
|---|---|---|---|---|---|---|
| 1 | 2/25 | $1,987.26 | $383.09 | $1,604.17 | $100.00 | $349,516.91 |
| 2 | 3/25 | $1,987.26 | $385.31 | $1,601.95 | $100.00 | $349,031.60 |
| 3 | 4/25 | $1,987.26 | $387.53 | $1,599.73 | $100.00 | $348,544.06 |
| 4 | 5/25 | $1,987.26 | $389.77 | $1,597.49 | $100.00 | $348,054.29 |
| 5 | 6/25 | $1,987.26 | $392.01 | $1,595.25 | $100.00 | $347,562.28 |
| 6 | 7/25 | $1,987.26 | $394.27 | $1,592.99 | $100.00 | $347,068.01 |
| 7 | 8/25 | $1,987.26 | $396.53 | $1,590.73 | $100.00 | $346,571.48 |
| 8 | 9/25 | $1,987.26 | $398.81 | $1,588.45 | $100.00 | $346,072.67 |
| 9 | 10/25 | $1,987.26 | $401.10 | $1,586.17 | $100.00 | $345,571.58 |
| 10 | 11/25 | $1,987.26 | $403.39 | $1,583.87 | $100.00 | $345,068.19 |
| 11 | 12/25 | $1,987.26 | $405.70 | $1,581.56 | $100.00 | $344,562.49 |
| 12 | 1/26 | $1,987.26 | $408.02 | $1,579.24 | $100.00 | $344,054.47 |
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A mortgage is a loan you take to purchase a home. You repay it over time with monthly payments that include principal (the loan amount) and interest. Mortgages can have fixed or adjustable rates, impacting how your payments change over time.
Unlike traditional calculators, this tool simulates different financial strategies, such as making extra payments, investing instead of prepaying, and reinvesting after an early payoff. It provides detailed comparisons to help you choose the best approach.
The simulator projects the growth of invested funds based on your specified annual return. It compares the results of paying off your mortgage early versus investing extra funds over the same period.
If extra payments shorten your loan term, the calculator will simulate investing your monthly payment through the remaining years of the original loan period.
Yes, you can set an average annual investment growth rate to simulate different market scenarios.
Yes, the simulation estimates potential mortgage interest tax deductions based on your filing status and adjusts the overall cost accordingly.
Yes, you can compare fixed-rate, adjustable-rate (ARM), and interest-only mortgages to understand their long-term financial impacts.
Absolutely! You can enter new loan terms and extra payments to see how refinancing could affect your total cost and investment potential.
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