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A little Math help please
Old 02-11-2008, 08:51 AM   #1
Recycles dryer sheets
Join Date: Jun 2005
Posts: 95
A little Math help please

Can anyone help me figure some Mortgage prepay numbers please.... I found some calculators but none do a combination of monthly and yearly lump overpayments.

Here are the details.

Mortgage balance 245,000
30 year
Fixed % 6.625

Want to prepay 250 per month and a 15,000 lump sum at the end of every year.

Anyone know how to figure when it will be paid off and what my interest savings will be combining those 2 prepays?


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Old 02-11-2008, 09:04 AM   #2
Recycles dryer sheets
Join Date: May 2007
Posts: 216
If I'm reading your question right, this calculator ought to work fine for you:

Mortgage calculator -
"...I'm the kind of guy who if he can't have too much of a thing doesn't want any at all."
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