Lower Your Interest and Term by Adding Principal

This simple calculator is designed to demonstrate the power of adding additional principle to monthly loan payments.

Benefits include:

  • Reduce your overall interest - you pay less over the life of the loan.
  • Lower your APR - Provides you more flexibility in payment.
  • Reduce the time it takes to pay off the loan.
Please enter your anticipated loan information below then play around with adding different principle amounts to see how much interest you can save.
Loan Amount:  
Rate: Additional Principle:
Term:  
Results Below
Original Payment: New Payment:
 
Original Total Payments: New Total Payments:
Original Total Interest: New Total Interest:
Original Term: New Term:
 
Total Interest Savings:  
 
The above assumes the following:
  • Monthly Principal and Interest Payments (No quarterly or semi-annual payments).
  • No Balloon Payments.
  • Additional principle from start of loan.
The information provided is for informational purposes only. It is not intended to guarantee you will be approved for a loan or that you will receive the stated payment, term, or rate. Before making a final decision, please contact your financial advisors for complete information.

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Lower Your Interest and Term by Adding Principal