[Mortgage] Early Repayment: The Best Allocation Between Monthly Payments and Bonus Payments
Author: XeXExecutions: 33940
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This calculator determines the optimal allocation ratio between monthly payments and bonus payments for a mortgage prepayment plan that minimizes total interest paid.
This repayment combination maximizes the amount of interest saved through early repayments based on the ratios calculated here, while also shortening the loan term the most.
However, the repayment method is assumed to be equal principal and interest payments, and early repayments are assumed to be made to shorten the loan term.
By using the simulator linked below, you can view a graph showing how the interest savings vary depending on the allocation ratios.
However, the repayment method is assumed to be equal principal and interest payments, and early repayments are assumed to be made to shorten the loan term.
By using the simulator linked below, you can view a graph showing how the interest savings vary depending on the allocation ratios.
| Optimal prepayment amount to reduce the balance subject to monthly payments | yen( ％) |
| The Optimal Prepayment Amount to Add to the Balance for the Bonus Portion | yen( ％) |
| If you make an early repayment as described above, | yenYou can save on interest and at the same time |
| Number of monthly payments: | Timescan be reduced, and furthermore |
| Number of bonus payments | TimesThat is all that can be reduced. |
| By the way, if you make an extra payment equal to the full monthly installment each month, | yenThis saves on interest. |
| By the way, if you use the entire amount to make an early repayment toward the bonus installment, | yenThis saves on interest. |
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