Find out how much interest you can save by paying an additional amount with your mortgage payment. The additional amount will reduce the principal on your mortgage, as well as the total amount of interest you will pay, and the number of payments.
Original loan amount
Original mortgage length
MonthsYears
Date of loan
JanFebMarAprMayJunJulAugSepOctNovDec 1989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019
Interest rate
Date of first extra payment
JanFebMarAprMayJunJulAugSepOctNovDec 2018201920202021202220232024202520262027202820292030203120322033203420352036203720382039204020412042204320442045204620472048
Additional payment amount
MonthlyAnnuallyOne Time
Show Payment Schedule
The extra payments will allow you to pay off your remaining loan balance 3 years earlier. Because you will pay off your loan sooner, you will save $51,216.68 in interest over the life of the loan.
Calculator disclaimer
The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.
