Extra payment calculator
Use this calculator to compare your original mortgage payoff path against an accelerated payoff plan. It can help you estimate months saved, interest saved, and how much faster your loan may disappear if you consistently pay extra.
Loan and extra payment details
This calculator provides a planning estimate only. It assumes your extra payments go directly toward principal and does not account for lender-specific payment handling rules.
How to think about extra payments
Extra payments can be a powerful way to reduce total interest and shorten the life of the loan. But the best choice depends on your broader budget, your emergency savings, and whether you still have enough flexibility after making those extra payments.
What this calculator does
This tool compares your current mortgage payoff path against an accelerated version using both a recurring extra monthly payment and a one-time extra payment. That makes it easier to see whether the payoff benefit feels worth the extra cash commitment.
Get the free first-time home buyer checklist
If you are still planning the purchase side of the journey, get the free worksheet to organize your budget, compare lenders, and think through your next steps more clearly.
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Related reading
If you want to understand the broader monthly payment first, read What Is Included in a Monthly Mortgage Payment?.
If you are still deciding what overall payment fits your life, use the affordability calculator.
Try the main mortgage tool
If you want to estimate the original mortgage payment itself before testing extra payments, start with the mortgage calculator.
You can also use How Much Income Do You Need for a Mortgage? if you are still pressure-testing the payment against your broader budget.