Lump Sum Payment Calculator
Follow these steps to see how much quicker you could pay off your loan if you made a lump sum payment in the middle of your term.
- Enter your loan amount, the original term of your loan (usually 25 years) and the percentage rate.
- Click the button to calculate the monthly repayments based on your original term. Then, enter the lump sum payment you wish to make, and how far into the loan (in years) you make this payment.
- Click the Calculate New Term button to find out how long your loan will take to pay off based on your lump sum payment.
Do not use commas or any symbols - numbers only!
Disclaimer
This calculator is designed as a guide only and does not constitute an offer. It is based on the information provided and actual figures may vary.
|