Extra Payment Calculator
See how much time and interest you can save by paying a little extra each month.
Loan Details
Remaining principal balance on your mortgage
Extra Payment
Amount added to your regular monthly payment
Time Saved
5 yrs 9 mos
24 yrs 3 mos instead of 30 yrs
Interest Saved
$126,617
$431,418 vs. $558,036 total
Loan Comparison
Without Extra Payment
Monthly Payment
$2,661
Payoff Time
30 yrs
Total Interest
$558,036
Total Cost
$958,036
With Extra Payment
Monthly Payment
$2,861
Payoff Time
24 yrs 3 mos
Total Interest
$431,418
Total Cost
$831,418
By paying an extra $200/mo, you'll pay off your loan 5 yrs 9 mos sooner and save $126,617 in interest.
Remaining Balance Over Time
This calculator is provided for educational and informational purposes only. Results assume extra payments are applied directly to principal each month with no prepayment penalty. Actual results may vary based on your loan terms, lender policies, and payment timing. Verify with your lender before making extra payments. Patron Mortgage. NMLS 1747739.
Want to Pay Off Your Loan Faster?
Our loan officers can walk you through refinance options, bi-weekly payment programs, and other strategies to help you build equity faster.