![]() This calculator will provide good results but you may want to also talk to your loan provider to get a calculation from them. ![]() (payment = principal + interest) Monthly Extra the extra amount you plan to add to your monthly payments on this loan to be applied to principal Making extra payments on your mortgage can help you pay off your home loan more quickly, saving money on interest in the. You can likely look at your last statement to find the amounts applied to principal and interest and add these 2 numbers together. ![]() Talk to a Loan Market mortgage adviser to find a home loan to match your repayments strategy. Free mortgage payoff calculator to evaluate options to pay off a mortgage earlier, such as extra payments, bi-weekly payments, or paying back altogether. This mortgage repayment calculator lets you calculate these savings based on different repayment amounts over various terms. Current Monthly Loan Payment the amount currently to be paid on this loan on a monthly basis toward principal and interest only. The earlier in the loan term you begin making additional repayments, the greater the benefit in terms of time and money saved. For more help and guidance for existing mortgage customers, visit our Frequently Asked Questions. Visit Manage My AIB Mortgage to view the options on calculation. Make Extra Payments Calculate how much your loan term and interest will change by applying extra money to your payments each month Reduce Term (Months) Calculate how much extra you need to pay each month in order to pay off your loan early Current Loan Balance the original amount on a new loan or principal outstanding if you are calculating a current loan Interest Rate the annual interest rate (stated rate) on the loan Remaining Term (Months) number of months which coincides with the number of payments to repay the loan. You can only use an AIB funding account to make Overpayments or Increase monthly repayments when using this form. Create amortization schedules for the new term and payments. This is especially relevant if you have, or are thinking about taking out, a variable rate mortgage. Try different loan scenarios for affordability or payoff. Our mortgage interest rates calculator will help you work out how changes in interest rates affect your monthly mortgage payments and understand the impact it could have on your finances. Use this calculator to determine 1) how extra payments can change the term of your loan or 2) how much additional you must pay each month if you want to reduce your loan term by a certain amount of time in months.
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