Extra Payment Calculator
See how extra principal payments can dramatically reduce your loan term and save thousands in interest.
Loan Comparison
Standard Payment
With Extra Payments
Payment Details:
Interest Comparison:
Extra Payment Strategies
Round Up Payments
Round your payment to the nearest $50 or $100. Even small amounts can save thousands over time.
Annual Windfalls
Apply tax refunds, bonuses, or raises directly to your principal for maximum impact.
Biweekly Payments
Pay half your monthly payment every two weeks. You'll make one extra payment per year.
Benefits of Extra Payments
Financial Benefits
- • Significant interest savings over loan term
- • Build equity faster
- • Own your home years earlier
- • Guaranteed return on investment
- • Reduce total cost of homeownership
Peace of Mind
- • Debt-free homeownership sooner
- • Lower overall financial risk
- • More retirement security
- • Flexibility for other investments
- • Protection against market volatility
Other Calculators
Mortgage Calculator
Calculate your standard monthly mortgage payment with taxes and insurance.
Calculate PaymentRefinance Calculator
See potential savings from refinancing your current mortgage.
Calculate SavingsAffordability Calculator
Determine maximum home price based on your income and debts.
Check Affordability