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Mortgage Length Calculator

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Description
This calculator figures the length of your mortgage depending on your monthly payment. By paying more than your mortgage payment every month, you can decrease the length of your loan. If you do not know your monthly principal and interest payment, you can use the Mortgage Payment Calculator to find out. Input an amount higher than your mortgage payment and determine when your mortgage will be paid off based on the higher payment.
Mortgage Length Calculator
Loan Information
Loan Amount ($)  Glossary of Terms
Interest Rate (%)  Glossary of Terms
Monthly Payment Considered  Glossary of Terms

Result
Loan Amount: $100,000.00
Interest Rate: 8.000%
Payment Amount: $733.76
Length of Loan: 30 Year(s) 1 Month(s)

Glossary of Terms
Loan Amount: Money borrowed that is usually repaid with interest. Return to Top
Interest Rate: The amount of interest charged on a monthly loan payment; usually expressed as a percentage. Return to Top
Monthly Payment Considered: This is the monthly payment made against your mortgage principal outstanding. To decrease the term of the loan, the monthly payment would need to be higher. A smaller monthly payment would increase the term of the loan. Return to Top

Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts.