Mortgage calculator
Extra Payment Calculator
Add a little extra to each payment and see how many months you cut off your loan and how much interest you avoid paying.
Your numbers
Interest saved
$100,120
Paying $1,907 instead of $1,707 each month
Time saved
7 yrs 6 mo
New payoff time
22 yrs 6 mo
Instead of 30 yrs
Total interest, standard
$344,370
Total interest, with extra
$244,250
Extra payments go straight to principal, which is why even a modest amount early in the loan makes such a difference. Make sure your servicer applies extra funds to principal, not to next month’s payment.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment or financial advice. We cannot guarantee their accuracy or applicability to your circumstances. Results are estimates only and are not a loan offer or commitment to lend.
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