Payoff Excelerator Calculator

Amortization: Extra Payments, Multiple Curtailments & Recast

What’s a principal curtailment? It’s a large, one-time lump-sum payment applied directly to principal (e.g., $10,000 from a bonus or sale). You can add multiple curtailments below and optionally recast after each one (re-amortize remaining balance over the remaining term to lower the required payment).
Keeps the total required payment optics the same after each recast.
Principal Curtailments (add multiple)
Date Amount ($) Action
Tip: Enter several dates (e.g., bonus this year, tax refund next year). Recast will recalc the required payment right after each curtailment.
Baseline
Curtailments — No Recast
Curtailments — With Recast


Interactive calculators are self-help tools. All examples are hypothetical and for illustrative purposes only.

E. Lee Smith

Branch Manager

RMLO

NMLS: 436498

512-948-6550

Esmith@canopymortgage.com

E. Lee Smith

Branch Manager

RMLO

NMLS: 436498

512-948-6550

Branch: Canopy Mortgage - TLC Group - 13809 Research Blvd, Ste 500, Austin, TX 78750 | Office #512-598-9093 | NMLSConsumerAccess.org #: 1359687 | Equal Housing Lender -All loans subject to credit and property approval.


Consumers wishing to file a complaint against a banker or a residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov. State Licenses page, Privacy Policy, and Terms of Use