Figure out your monthly and annual mortgage repayments, and see how much you could save by making overpayments.
Set an Overpayment
Leave blank or set to loan end for overpayments until loan finishes.
Estimated annual overpayment allowance for the first year of recurring payments (10% of balance at start of that calendar year): N/A.
This is based on the original loan schedule. Lenders typically allow overpaying up to 10% of the outstanding balance per year without penalty. Your chosen recurring overpayments for this year should collectively aim to stay within this allowance.
Estimated maximum one-time overpayment for this calendar year (10% of balance at start of year): N/A.
This is based on the original loan schedule before applying this specific overpayment. It typically represents an annual allowance.
Configured Overpayments:
The following assumptions are used for the calculations:
Overpayment allowance is based on the outstanding balance at the start of each calendar year (using original schedule for estimation).
Overpayments result in a reduction in the mortgage term, not in the monthly payment (unless the loan is paid off early).
Lenders typically allow overpaying up to 10% of the outstanding balance per year without penalty. This calculator lets you model higher amounts, but be aware of potential fees from your lender.
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