Extra Payment Calculator
See how extra payments reduce your payoff time and interest.
Inputs
Current Mortgage Balance
$
Interest Rate
%
Base Payment Frequency
Base Payment Amount (leave 0 = auto 30y)
$
Extra payment
Extra Amount
$
Extra Frequency
Extra payments are converted into the same frequency as your base payment for an apples-to-apples payoff simulation.
Impact Summary
24 yrs
≈ 297 months with extra
Time Saved
5.3 yrs
Interest Saved
$79,807
Extra / Pay Period
$200
Base Payoff Time30.00 years
Payoff Time With Extra24.75 years
Base Total Interest$395,173
Interest With Extra$315,367
Interest Saved$79,807
Educational estimate only. Assumes constant interest rate and consistent payments. Actual lender interest calculations may vary.