For homeowners

Extra Payment Calculator

What a bit more each month does to the payoff date and to the interest.

Every extra dollar goes straight at the balance, so it stops earning the lender interest for the rest of the loan. That is why a modest amount each month takes years off. Tell your lender the extra is for principal, or some of them will simply hold it and call your next payment early.

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A bonus or a tax refund put against the balance today.

Paid off sooner by

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Your payment now
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What you would pay
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Paid off as things stand
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Paid off instead
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Interest as things stand
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Interest if you pay extra
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Interest you never pay
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An estimate, not a quote. These figures are estimates for planning only. They are not a loan offer, a quote, or advice. Interest rates, taxes, insurance, and closing costs vary by lender, property, and location. Confirm every number with your lender and a licensed professional before making a decision.

Wondering what this means for your own loan?

Bring your statement and we will go through it with you. No one here sells mortgages, so there is nothing to sell you.

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