Mortgage Acceleration  
Paying just a little extra on your mortgage each month can have a dramatic effect on the time it takes you to pay off your mortgage and the amount of interest you pay over the life of the loan. Adding $100 to $200 per month to your usual payment can take years off the length of your loan and save you tens of thousands of dollars in interest. This calculator is designed to show you how much time — over the life of the loan — and money you can save by paying an additional amount in your mortgage payment each month.
     

1. What was the original face value of your loan?

$

2. What is the annual interest rate on your loan?

%

3. What was the original term of the loan (in months)?
(E.g., for a 30-year loan enter 360 months.)

4. How many monthly payments have you already made?

5. What is the additional amount you are considering adding to your monthly payment?

$
 
   
   
Budd, Melone & Company, LLC
Budd, Melone & Co. LLC MI Office
3121 University Drive
Suite 180
Auburn Hills, MI 48326
248-499-8704
Fax 248-499-8721

Budd, Melone & Co. LLC TN Office
725 Cool Springs Blvd.
Suite 600
Franklin, TN 37067
615-567-3056
Fax 615-567-3086
Phone:
Toll Free 877-293-5830
• lmelone@wfafinet.com jbudd@wfafinet.com mlanderson@wfafinet.com