Extra Mortgage Payment Calculator
Model how extra payments shorten your loan and cut total interest — see your new payoff date in seconds.
Your Loan & Extra Payments
Enter current loan details and how much extra you can pay.
Extra Payment Options
💡 Small Extras Add Up Fast
Adding just $200/month to a $320,000 loan at 6.875% saves roughly $58,000 in interest and shaves nearly 5 years off your term. The earlier extra payments start, the more interest you avoid.
Payoff Analysis
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Two ways to pay off your mortgage early
Extra monthly payments are the most flexible approach — add any amount to your regular payment and it goes directly to principal. Even $100/month makes a meaningful difference over time.
Lump-sum payments are ideal when you receive a bonus, tax refund, or inheritance. A single $10,000 payment early in the loan can eliminate years of interest.
Both strategies work best when your mortgage allows prepayment without a penalty — the vast majority of modern mortgages in the U.S. do. Check your loan documents to confirm. Learn more in our buyer's guide →
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