This calculator will help you determine how much you will have to increase your regular mortgage payment to meet a certain balance by a certain date. Enter your current mortgage balance, interest rate, payment, payment frequency and the date you want to reach your goal by. The calculator will give you what the balance will be by the goal date with your regular payments.
Enter your desired end balance and it will give you the amount you need to increase your regular payments to meet this goal. Note: The calculator will not accept a goal date beyond 10 years. You should not extend the goal date beyond the date when your current term is up. Your interest rate will change at that time.