A Quick Word from Terry, Mike and Dug:

During this time of uncertainty and sheltering-in-place, we will continue to have at least one person in-office daily until at least 1:00 PM PDT to meet the needs of you, our clients.  Alternate servicing procedures are also in place so direct face to face contact can be minimized.  If you must leave a voice message or contact us by email, know we will get back with you as quickly as possible.We are here to serve your needs despite this situation. From everyone at Laguna Financial Services 

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Mortgage Acceleration

How Soon Could You Pay Off Your Mortgage?

Paying just a little extra on your mortgage each month can have a dramatic effect on the time it takes you to pay off your mortgage and the amount of interest you pay over the life of the loan. This calculator is designed to show you how much time and money — over the life of the loan — you could save by paying an additional amount in your mortgage payment each month.

Your Results

The results below show the time and money you would save by accelerating your mortgage payments. Other popular payment options you could consider to reduce the time and cost of your mortgage loan include making biweekly payments or making one additional payment each year. All of these strategies can help you save money and time without incurring the expense of refinancing. Keep in mind that not all mortgages have a prepayment feature so you should consult with the holder of your mortgage for the specifics of your situation.

The original face value of your loan: $0.00
Additional amount you are adding to your monthly payment: $0.00
By making this extra payment, you will save the following amount of interest: $0
Also, your home will be paid off this many years early: 0

The graph below shows the difference between paying your mortgage with the minimum required payments vs. adding the additional amount you specified to your mortgage payment each month. The more you can manage to pay each month, the faster you'll pay off your mortgage and the less interest you'll pay.

Accelerated Mortgage Projection