What can one extra payment change?
Compare your current mortgage schedule with a steady extra principal payment. See the time and interest you could keep.
Your comparison will appear here
Enter your mortgage details to see how an extra monthly payment changes the payoff.
With the extra payment
—
Total monthly principal + interest—
Time saved
—
—
Interest saved
—
—
Payoff comparison
Current schedule
—
With extra
—
Explain these results
METHOD
This estimate uses a fixed-rate monthly amortization schedule. Extra money is applied directly to principal every month. It assumes on-time payments and no change to the rate; taxes, insurance, fees, escrow, and prepayment penalties are excluded.