Mortgage tool

Extra Payment Calculator

Calculate how much you can save by making extra payments on your mortgage. See how additional monthly payments or one-time lump sum payments can reduce your interest costs and payoff time.

Loan Amount ($)

Interest Rate (%)

Loan Term (years)

Extra Monthly Payment ($)

Enter valid values to see the impact of extra payments. Loan up to $10M, rate 0-30%.

Learn More About Extra Payments

Understand the benefits of paying extra on your mortgage:

Beginner Guide

Guide to Making Extra Mortgage Payments

Learn strategies for paying down your mortgage faster

Q&A Post

Should You Make Extra Mortgage Payments?

Weigh the pros and cons of prepaying your mortgage

Q&A Post

What Are Prepayment Penalties?

Understand if your mortgage has prepayment restrictions