United States · USD. This page uses a shared calculation model and may include US-specific assumptions. Selecting a country changes formatting, not local tax, eligibility or contribution rules. Amounts are not converted between currencies.
Input Parameters
Results
Original vs Extra Payment
- Months
- Interest
Choose a chart point to read its values.
View chart data table
Interest Comparison
- Original Interest$488,281 (57%)
- New Interest$366,160 (43%)
Disclaimer: This calculator provides estimates for informational purposes only. Results are based on the inputs provided and standard financial formulas. Consult a qualified financial advisor before making financial decisions.
About This Calculator
The Extra Payment Mortgage Calculator see how extra payments shorten your loan and save interest. It's built for anyone working with loans & debt who wants fast, accurate numbers without building a spreadsheet.
Sources & Model Limits
United States · USD. This page uses a shared calculation model and may include US-specific assumptions. Selecting a country changes formatting, not local tax, eligibility or contribution rules. Amounts are not converted between currencies. Read our methods and correction policy.
How It Works
Enter your loan amount, interest rate (%), loan term (years), extra monthly payment, and the calculator instantly computes your interest saved, regular payment, new payment, months saved, new payoff (years). For example, with Loan Amount: $350,000, Interest Rate (%): 7%, Loan Term (Years): 30, Extra Monthly Payment: $200, the interest saved comes out to $122,122.
Key Benefits
- 1See your interest saved update instantly as you adjust any input
- 2Compare different scenarios side by side before making a decision
- 3Visualize the breakdown with a chart instead of raw numbers alone
- 4Export your results as a PDF report or CSV file for your records
Practical Tips
- →Shop multiple lenders — even a small rate difference saves real money over the loan term
- →Always compare the APR, not just the headline interest rate
- →Extra payments toward principal shorten your payoff time and cut total interest
- →Avoid extending loan terms just to lower the monthly payment — it usually costs more overall