Paano Kalkulahin si Mortgage Overpayment
Ano ang Mortgage Overpayment?
Mortgage overpayment pays more than the required monthly amount. Even small regular overpayments save tens of thousands in interest and cut years from the mortgage term.
Pormula
Interest saved from overpayment = Sum of interest on principal reduction across remaining term; Payoff acceleration = Original term − New term
- M
- Original mortgage balance (Currency)
- Extra
- Additional payment amount (Currency)
- r
- Annual interest rate (Percentage)
- n
- Remaining term (Years)
Step-by-Step na Gabay
- 1Overpayment reduces outstanding principal directly
- 2Less principal = less interest each month (snowball)
- 3Most lenders allow 10% of balance/year penalty-free
- 4Effect compounds — savings accelerate over time
Mga Nalutas na Halimbawa
Input
£200k, 5.5%, 20yr, £200/mo extra
Resulta
Saves ~£28k interest; repaid 4 years early
Mga madalas itanong
Is overpaying always the best use of money?
If mortgage rate > investment return, yes. 6.5% mortgage vs 4% bond returns → overpay. But 6.5% mortgage vs 10% stock market expected return → invest elsewhere.
Should I overpay if I have credit card debt?
No. Credit card rates (18%–25%) far exceed mortgage (6%–7%). Pay credit cards first. Mortgage is the cheapest debt; pay it last (strategically).
What if rates drop, can I refinance?
Yes, but refinancing costs $3–6k in closing costs. Break-even is 18–36 months. If you plan to stay, refinance. If overpaying for rate, overpay instead.
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