Free Calculator
See how a little extra each month can shave years and tens of thousands in interest off your mortgage.
Estimate only. Assumes a fixed rate and that the extra amount is applied to principal every month.
Every extra dollar applied to principal skips all the future interest that dollar would have accrued. Because mortgages are front-loaded with interest, even a modest extra payment early on removes years from the schedule. This tool compares your normal payoff to a payoff with the extra amount applied monthly.
Prefer to lower the payment instead of the term? Compare a refinance or a mortgage recast.
It depends on your balance, rate, and how early you start, but an extra $200–$300/month often removes several years and tens of thousands in interest. Enter your numbers above to see your specific savings.
If your rate is high, refinancing may save more; if it's already low, extra principal payments or a recast are usually better. We can compare all three for you.
Not always — tell your servicer to apply extra amounts to principal, or they may hold it toward the next payment.
We shop 40+ lenders to beat the estimate. Free quote, no credit pull to start.