Extra Payment Calculator
See how extra payments can save you thousands in interest and years off your mortgage. Even small additions to your monthly payment make a huge difference.
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Current Loan
Extra Payments
You Save
$103,449
in interest savings
Pay Off Early
6y 11m
New Payoff
23y 1m
Comparison
Base Monthly Payment$1,896
Total Interest (No Extra)$382,633
Total Interest (With Extra)$279,185
Interest Savings$103,449
Quick Savings Scenarios
Popular extra payment strategies for your $300,000 loan at 6.5%
| Strategy | Interest Saved | Time Saved |
|---|---|---|
| +$100/mo | $-57,996,468 | - |
| +$200/mo | $-57,602,958 | - |
| +$500/mo | $-56,422,427 | - |
| +$1000/yr lump | $-58,073,180 | - |
| $5000 one-time | $-58,275,176 | - |
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