Welcome to YourAid.com.

Here is a tool that I thought might be helpful to people. It is free to use and accurate to test out different payment amounts to determine the amount of money saved by paying more than the minimum amount of the loan. It does a great job of calculating mortgage payments as well as creating an amortization chart.

The first three values are required:
Principal - this is the loan amount that you are wanting to get (after the down payment has been applied)
Annual interest rate - this is the rate that the bank is willing to offer you. Now is a great time to get a loan or refinance because interest rates are VERY low.
Length of Loan - the number of years for which you want to get the loan.

I have added a fourth variable that would be estimated monthly payment for quick payoff. This variable is only used if it is above the minimum payment amount.
Principal:
Annual Interest Rate:
Length of Loan (Years):

Monthly Payment Amount (for quick payoff):