Mortgage recasting allows you to pay a lump sum toward your mortgage in order to reduce your remaining monthly payments and interest. When you recast your mortgage, you’ll keep the same interest rate ...
An amortization calculator is thus ... and might decide to make an extra payment or add more to their regular monthly payment to be put toward the principal when they can afford it.
Mortgage amortization shows how your loan's principal and interest change over time, giving you valuable insights into how your equity is built and how your mortgage is repaid.
Make extra principal payments ... Now you know why using a mortgage amortization calculator is so much easier. But some people may have an easier time wrapping their head around mortgage ...