Mortgage - Lump Sum Repayments Calculator

There are times in which one finds some extra money even when all his obligations are paid for. A person can save on money and time if he makes a lump sum repayment. This must be done if there’s some extra money left or saved after all the necessary expenses are accounted for. The person would be doing himself a favor when he practices the act of mortgage lump sum repayments when the opportunity permits him to do so.

But this might be confusing as you’ll be making repayments out of the regular scheme of the loan. It would reduce the amount payable to the lender. Not only will that be the case, but the total time that the loan should be made be reduced as well.

This should not be a problem when there is mortgage lump sum repayments calculator available online. This simple web tool can compute how much money and time you can save by paying in a lump sum.

Using it is easy. You just need to input the loan amount, interest rate, loan term and its repayment frequency. The frequency is usually monthly, fortnightly or weekly. Then you must indicate the amount of the lump sum and when in the loan period it is made.

Once all of the information is put in place, the calculator will automatically tell the time and interest saved due to the lump sum payment. A graph will also show loan balance against the period in which the loan would be paid in whole.

The mortgage lump sum repayments calculator is a tool to be used when one makes a lump sum payment against his current loan. This way, the person can easily determine whether the lump sum payment will make the payment would make a significant impact on the loan mortgage or not. This is one way to assess one’s actions with regards to his repayments.


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