Where can I find a mortgage calculator that can determine how many years it will take to pay our loan back?

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…if we enter the interest rate, loan amount and how much we pay each month. I know it will be paid off early, but I want a more specific time frame.

Thanks!

4 Comments
  1. Reply
    Vincent B
    January 26, 2011 at 8:43 am

    eloan.com they have a mortgage calculator. very good one!

  2. Reply
    yaakovsheinfeld
    January 26, 2011 at 9:46 am

    Wasn’t sure if you would be paying the same amoutne extra each month or if it would vary. There are wonderful spreadsheet templates to help you with this. One that allows flexibility is here http://www.joecheng.com/amortization/ and can be downloaded. This will provide you a full schedule of your loan and you will be able to enter different extra payment amounts and see exactly how the life of your loan will be shortened. Microsoft offers a free template that is nice but it doesn’t allow for changing the amount of the extra payment and can be downloaded here http://office.microsoft.com/en-us/excel/HA010346401033.aspx

    Yaakov

  3. Reply
    walkinandrockin
    January 26, 2011 at 10:18 am

    Use the Loan Amortization Calculator on http://www.fnmshome.com

    There are several different calculators available on this site

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