Mortgage calculator with additional payments online

Early repayment of the mortgage will not only speed up the payment of debt, but will also help reduce costs, since as a result of recalculation, the amount of accrued interest will decrease. And you can calculate the possible benefit using a special mortgage calculator with early repayment. It differs from the usual ones by the presence of additional items that allow you to add information about additional contributions and payments to the calculations. As a result, debtors have the opportunity to find out in advance how profitable their actions will be and calculate the amount they will be able to save. At the same time, using a calculator is no more difficult than entering data into Excel. Borrowers simply need to indicate the required amounts and data and start the calculation process. The rest will happen automatically, without their active participation.

Instructions for using the calculator

The process of using the mortgage calculator is extremely simple.

Borrowers will have to:

1. enter the loan amount, term and interest rate;
2. indicate the date the loan was issued and specify the type of payments (annuity or differentiated);
3. add information about all planned and made early contributions;
4. start the calculation process;
5. wait for the result.

As mentioned above, a minimum of actions will be required from debtors. They are required to accurately fill out all the required fields and click the calculation button. If the debtor has doubts about future payments, it is worth carrying out several calculations, successively replacing additional data (about early payments). If you need to compare several options, it's worth opening a couple of additional tabs and repeating the process. This seems a little inconvenient, but it will allow you to get an accurate result and calculate the potential benefits in advance.

Sberbank mortgage calculator 2021

The mortgage calculator from Sberbank is based on basic mathematical formulas that help you quickly calculate all credit indicators. This is relevant for people who want to calculate the mortgage amount for 2021 at Sberbank. The calculation result will be more accurate if you provide reliable information, and therefore it is necessary to contact the bank in advance to clarify the following information: loan rate, availability of service fees, additional payments.

In the calculator you will also need to enter the amount of the down payment, but this number depends on the capabilities of the person who plans to take out a mortgage loan.

Official website of the bank: sberbank.ru

Features of early mortgage repayment

Despite the apparent simplicity of early repayment, even such a simple procedure has rules. The best way to become familiar with them is to read the loan agreement.

But in general terms the conditions are as follows:

• the debtor is obliged to notify the bank of the desire to increase the contribution and pay an additional amount;
• the warning may even be verbal, but it is recommended to submit a written application;
• By submitting an application, the client undertakes the obligation to pay;
• Waiver requires you to withdraw your application by submitting a second application with the appropriate information;
• the deadline for submitting an application is strictly defined (specified in the contract);
• after payment of the debt, a recalculation is made;
• As a result, either the period for complete closure of the loan or the amount of monthly payments is reduced.

Sometimes the contract also specifies other features that depend on the credit institution issuing the money. That is why, before concluding an agreement, you must carefully read each section of the agreement, without neglecting any point.

What are the terms for early repayment of a mortgage?

After calculating the early repayment of the mortgage, you can submit an application. It is drawn up in free form, but must clearly indicate:

• the amount of additional payment that is planned to be made;
• date of payment.

Moreover, most organizations in 2021 require that the application be submitted 15 days before the payment date, but some credit companies increase this period to a month or 45 days.

It is also important that many establishments accept as an application a regular telephone call to the contact center, during which the client declares his desire to repay part of the debt. But it is more reliable to visit the bank in person and submit a written application to eliminate inaccuracies.

Minimum payment

There are usually no limits on the amount, so debtors are able to make both a small contribution and a substantial payment to the credit account. The main thing is that it is appropriate. That is, it is difficult to imagine that it makes sense to waste time writing an application for a few rubles. But contributing an additional thousand can be a significant help in paying off the debt.

Some people round up the payment amount for their own convenience. In such a case, a statement is also required. In this case, the amount by which the monthly contribution increases can be any.

Recalculation of interest

The recalculation of interest deserves special attention. After making payment, borrowers can request a reduction in the amount of monthly payments or the repayment period of the debt. In the second case, the bank will have to additionally recalculate the amount of overpayment. That is, with annuity payments, interest is accrued immediately for the entire loan term. When the term is reduced, the excess accrued interest disappears. As a result, debt is reduced.

With differentiated payments, the overpayment is reduced in any case, no matter which recalculation option the client chooses, since in this case the interest depends solely on the loan balance.

How to calculate a mortgage yourself using a calculator?

To calculate a mortgage online, the calculator will require the basic parameters of the loan: amount, down payment, term, interest rate, payment plan, possible commissions and early payments. You can make the calculation in two ways:

• By property value. In this case, all conditions are entered manually - you can calculate the cost of the current mortgage on the market or estimate which program with what conditions would suit your budget.
• By bank. This method is more practical: you need to choose a bank and a specific mortgage loan that it already issues. The calculator will determine the interest rate and payment plan itself, and you only have to enter three parameters - the amount, the down payment and the term.

Based on the calculation results, the calculator will present the amount of the monthly payment, a detailed payment schedule, the amount and percentage of the overpayment, and the end date of payments.

Example of calculating monthly mortgage payments

Let's assume that in January 2021 a young family buys a new building under a preferential mortgage program. To do this, they borrow 3,400,000 rubles from the bank at an interest rate of 4%. We managed to collect 1,000,000 rubles for the initial payment. The planned mortgage term is 8 years. What calculation will the calculator make?

• The total amount of payments will be 2,808,149.87 rubles.
• The monthly payment amount is 29,254.26 rubles.
• The overpayment amount is 408,149.87 rubles, or 17.01% of the original amount.
• The last payment on the loan will be January 2029.

The payment structure for most mortgages is an annuity, so you will have to pay the same amount throughout the entire repayment period.
As an example, let's look at what the last ten payments will look like. Payment schedule:

Calculation of a mortgage with early repayment

What if the young family from the example managed to find additional funds? In this case, early payments can be entered into the calculator. For this:

1. Click “add early repayment”.
2. We indicate the amount and frequency of early payment - one-time, monthly, etc.
3. We choose the date and nature of early repayment - with a revision of the term or recalculation of the payment.

For example, if in the second year of the mortgage a family makes a one-time deposit of 250,000 rubles, then they will save 75,611.44 rubles. Accordingly, the amount of overpayment will decrease - from 17 to 13.9% of the amount of debt to the bank.

Refund of insurance in case of early repayment of mortgage

Another advantage of quickly closing the debt is the ability to return part of the insurance fee. The size of the benefit obtained from this cannot be calculated in any calculator for early repayment of a mortgage, but it is significant.

To receive money you need:

1. close the debt early;
2. make sure your insurance is still valid;
3. write a statement to the insurance company demanding compensation for the remaining unused amount.

It is important to emphasize that they will not be able to refuse the client, since the beneficiary of insured events is the bank. But, since the debt is paid, such a situation becomes meaningless, and the insurance itself loses its meaning.

You can get more detailed advice at the office of the insurance company or from its official representatives (all modern insurers provide clients with a free contact number where they can contact them with any questions).

What is the most profitable way to pay off a mortgage with differentiated payments?

Banks rarely offer differentiated payments, but you can still take out a mortgage loan with such conditions. In this case, the principal amount is divided into equal parts, and interest is accrued monthly on the remaining debt. Therefore, the payment amount is gradually decreasing.

For the mortgage from our example in this situation, the overpayment will be 484,958 rubles, the first month’s payment will be 22,500 rubles, and the last month’s payment will be 12,604 rubles. To calculate the benefit, we will use one of the sites with credit calculators, for example mobile-testing.ru.

Early repayment with reduced term

For just 5 thousand a month you will reduce the overpayment of interest by 137,121 rubles and pay off the mortgage in 5 years 8 months. At the same time, every month you will have to pay an increasingly smaller amount due to differentiated payments.

Keep in mind that the calculator does not take into account early repayments on your first payment. However, if this were possible, the numbers would change only slightly.

Early repayment with reduced payment

When the payment amount is reduced, the process also moves towards a reduction in both parameters, although not so quickly.
This happens by reducing the share that goes towards repaying the principal debt each month. It turns out that with this approach you will save 94,196 rubles, and you will pay off the mortgage in 7 years and 1 month.

Repayment with a decrease in monthly and an increase in early payment

There is no point in calculating the difference between the initial payment and the current one: it is formed mainly due to a decrease in interest. And the payment will be reduced this way and that depending on the enthusiasm with which you pay off the main debt.

conclusions

1. If you are satisfied with the size of the share of the principal debt in the payment structure, reduce the loan term. In any case, the monthly payment will decrease faster than initially due to a reduction in the balance of the principal debt.
2. Reducing the payment significantly delays your relationship with the bank - in this particular case, by 1 year and 7 months. At the same time, the monthly payment at first does not decrease as quickly as we would like: with payments without early payments after a year of mortgage, its amount will be 21,405 rubles, with early payments with a reduction in the payment - 20,345 rubles.

Conditions for early repayment of mortgages in large banks

The rules and procedure for servicing early repayment of a loan in large banks do not differ from those described above. There may be only a few features that will be reflected in the loan agreement (the importance of reading it in a timely manner has already been discussed). That is, clients should remember to comply with the application deadlines and fully comply with the conditions specified in the application (including the amount of payment). There are no other important features and distinctive features of service in reputable organizations.