mortgage calculator extra payment one time

#MORTGAGE CALCULATOR EXTRA PAYMENT ONE TIME FREE#

Sometimes it affects our finances or cashflow negatively. We all run into periods in our life where the unexpected happens. Visiting our website you can see all the different options to help pay your mortgage off even faster. Therefore you're putting that 10% right to your principal payment and reducing those overall mortgage costs. So for example, if you had a $200,000 mortgage, you have the ability to put a $20,000 lump sum directly to your principal every single year.

This lump sum is 10% of your initial value of your mortgage. Another option available is to put 10% down yearly as a lump sum payment directly to your principal. Those additional funds going right to your principal reducing your overall amortization period. For example, if your bi-weekly payment is $1,000 you can increase that payment by an additional $100 to $1,000. From your original amount you can add on $100 up to the exact amount of your bi-weekly or monthly payment. The double up option allows you to increase your monthly or bi-weekly payments. So that's one payment out of your entire year. One double up payment can actually save you tens of thousands of dollars of interest over the course of your mortgage. One of the simplest options is to actually do a double up payment. For instance, if you come into a lump sum amount of money or you get a raise, or your finances change at all, we could help you change your mortgage payments in order to pay that mortgage off even faster. Here at RBC we have many flexible payment options to help make that dream a reality.

#MORTGAGE CALCULATOR EXTRA PAYMENT ONE TIME FREE#

Being mortgage free is a dream of many Canadians.

Mortgage calculator extra payment one time