Posted on: 09th Oct, 2008 09:39 pm
How can I compute how much my payoff is affected every month by the monthly payment. In other words, how much is the payoff reduced with every payment? Subtracting the regular payment amount from any amount on the mortgage statement does not seem to be accurate at all. I dont have time to wait a month to get two different payoffs and subtract them.
Hi marcus!
Welcome to Forums!
As you haven't mentioned the type of loan you have taken, I am giving you the link to calculate FRM.
http://www.mortgagefit.com/calculators/simple.html
You will also get an amortization schedule from which you can know the balance amount yet to be paid.
Feel free to ask if you have further queries.
Sussane
Welcome to Forums!
As you haven't mentioned the type of loan you have taken, I am giving you the link to calculate FRM.
http://www.mortgagefit.com/calculators/simple.html
You will also get an amortization schedule from which you can know the balance amount yet to be paid.
Feel free to ask if you have further queries.
Sussane