Free calculator
Mortgage payoff calculator
See how much faster you could pay off your mortgage — and how much interest you could save — with an extra monthly payment.
Payoff time saved
4y 9m
Interest saved
$68,042
An example — assumes a fixed rate and doesn't include taxes, insurance, or prepayment penalties. Check your loan terms allow extra principal payments with no penalty.
Talk to a loan officerHow extra payments help
Every extra dollar you put toward principal reduces the balance that future interest is calculated on, which compounds over the life of the loan — even a modest extra payment each month can shave years off a 30-year mortgage and save a meaningful amount in interest.
Before making extra payments, confirm with your loan servicer that there's no prepayment penalty and that extra payments are applied to principal, not held as a credit toward your next regular payment.
See what you could save — it only takes a couple of minutes.
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