Extra Mortgage Payment Calculator
Interest saved and years cut by paying extra. Change the numbers and the result updates instantly.
How it works
Any extra payment goes straight to principal, so you stop paying interest on that amount for the rest of the loan. Small extra amounts early in the loan save the most. Check with your lender that extra payments are applied to principal and that there is no prepayment penalty.
Example
Example: on a $320,000 loan at 6.5% for 30 years, paying an extra $250 a month cuts about 7 years and 9 months from the loan and saves roughly $123,000 in interest. Enter your own numbers to see yours.
Tips
- Change one input at a time to see what moves the result most.
- Use realistic rates. Check current averages before you decide.
- Results are estimates and do not replace advice from a licensed professional.
Frequently asked questions
Is this calculator free?
Yes. There is no sign-up and nothing is stored on our servers; the math runs in your browser.
How accurate is it?
It uses standard formulas, but real offers include fees, rate changes and taxes that can differ. Treat the result as an estimate.
Sources and method
Page last updated November 2026. See our editorial policy and disclaimer.