1. What is Mortgage Acceleration?

Mortgage acceleration refers to strategies that help pay off your mortgage faster than the original term, saving you time and interest payments. This calculator helps you estimate how much time you can save by accelerating your payments.

2. How Does the Calculator Work?

The calculator uses a simple formula:

Where:

• Original Term — The original length of your mortgage in months
• Accelerated Term — The projected term after applying acceleration strategies

Explanation: By comparing your original mortgage term with the accelerated term, you can see exactly how many months (and years) you'll save.

3. Benefits of Mortgage Acceleration

Details: Accelerating your mortgage can save thousands in interest payments, build equity faster, and free up your finances sooner for other goals.

4. Using the Calculator

Tips: Enter your original mortgage term and the projected term after acceleration (must be less than original). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What are common acceleration strategies?
A: Making biweekly payments, adding extra principal payments, or refinancing to a shorter term.

Q2: How much can I realistically save?
A: Depending on strategy, you can often shorten a 30-year mortgage by 5-10 years.

Q3: Does acceleration always make sense?
A: Not always - consider opportunity cost if you have higher-interest debt or better investment options.

Q4: How do I calculate accelerated term?
A: Use a mortgage amortization calculator with your planned extra payments.

Q5: Are there prepayment penalties?
A: Some mortgages have them - check your loan terms before accelerating.