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How Much Can You Save?
Conventional Mortgage vs. The Mortgage Reduction Plan
| $200,000.00 Mortgage Amount |
| 6.00% Fixed Interest Rate |
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Conventional 30 Year Loan |
Mortgage Reduction Plan |
| Monthly Pmt (P.I.) |
$1,199.10 |
$599.55 Bi-Weekly* |
| Time to Pay Off |
30 Years |
24 Years 9 Months |
| Total Payments |
$431,677 |
$384,387 |
| Interest Paid |
$231,677 |
$184,387 |
| Time Saved |
None |
5 Years 3 Months |
| $ Savings |
$0.00 |
$47,292 |
* Does not include $3.50 Bi-Weekly Processing Fee |
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*All examples used are based on a $200,000.00 mortgage, 30-year term at 6.00% fixed interest rate. Your savings will vary depending on the mortgage amount, rate and term used. Check with your plan representative to determine your actual savings.
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Tower Administrative Services, Inc. 8 Marticville Road, Lancaster PA 17603
Phone (877) 218-7281 Fax (717) 584-0276
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