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Extra Payment Calculator
Extra principal is the highest-certainty return available to most homeowners — a guaranteed savings equal to your mortgage rate, with no market risk.
The numbers are usually larger than people expect, especially in the early years when nearly all of your payment is interest.
Your numbers
Your results
Interest saved
$105,430
Net of your one-time payment
- Years cut from the loan
- 6.7 years
- New payoff time
- 23.3 years
- Base payment (P&I)
- $2,023
- Payment with extra
- $2,223
- Total interest — as scheduled
- $408,142
- Total interest — with extra
- $302,713
80 months earlier
What happens if you change this
Adding $200 a month pays the loan off 6.7 years early and saves $105,430 in interest. That's a guaranteed 6.5% return with no market risk. Doubling the extra to $400 would roughly compound the effect — slide it up to see.
Ready for real numbers?
Estimates get you oriented. A pre-approval gets you an offer sellers take seriously.
Related calculators
- Mortgage Payment CalculatorSee your full monthly payment — principal, interest, taxes, insurance and mortgage insurance — not just principal and interest.
- Refinance CalculatorFind your true break-even point — the month the savings finally outrun the cost of refinancing.
- PMI CalculatorSee what private mortgage insurance costs you, and exactly when you can get rid of it.
- HELOC CalculatorEstimate how much you can borrow against your equity, and what the interest-only and repayment payments look like.
Questions people ask
- Is paying extra better than investing?
- It's a guaranteed return equal to your rate, versus an uncertain one in markets. Many people do both. It's a personal risk decision, not a math-only one.
- Do I need to tell my servicer it's principal?
- Yes — designate extra funds as principal-only, or the servicer may apply them to your next payment instead.
Estimates for education only — not a loan approval, rate quote, or commitment to lend. Actual figures depend on credit, property, program guidelines, and market conditions at the time of lock. Corie Adams · NMLS #1875205 · Network Funding, LP · NMLS ID #2279 · Equal Housing Opportunity.