Calculate interest savings and early payoff dates from extra mortgage payments. See how small additional payments can save thousands and cut years off your loan.
Accelerate your mortgage payoff with strategic extra payments. Our calculator shows you exactly how much you'll save in interest and how many years you can shave off your loan term by making additional payments.
Click on any example to load it into the calculator.
Adding $200 monthly to a typical mortgage.
Current Balance: $250000
Interest Rate: 4.5%
Remaining Term: 25 years
Monthly Payment: $1264
Extra Payment: $200
Frequency: Monthly
Start Month: 1 months
Adding $500 monthly for maximum savings.
Current Balance: $300000
Interest Rate: 4.2%
Remaining Term: 28 years
Monthly Payment: $1467
Extra Payment: $500
Frequency: Monthly
Start Month: 1 months
Making half payments every two weeks.
Current Balance: $200000
Interest Rate: 3.8%
Remaining Term: 22 years
Monthly Payment: $1056
Extra Payment: $528
Frequency: Bi-Weekly
Start Month: 1 months
Using annual bonus for extra payments.
Current Balance: $350000
Interest Rate: 4.8%
Remaining Term: 30 years
Monthly Payment: $1842
Extra Payment: $1500
Frequency: Annually
Start Month: 1 months